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    needygirl's Avatar
    needygirl Posts: 11, Reputation: 1
    New Member
    		  
    #1

    Jun 11, 2012, 02:13 PM
    Accounting help!
    Flagstaff Co. has actual sales for July and August and forecast sales for September, October, November, and December as follows:


    Actual:
    July $ 73,500
    August 78,750
    Forecasted:
    September 85,500
    October 70,500
    November 91,500
    December 80,250

    Based on past experience, it is estimated that 30% of a month's sales are collected in the month of sale, 50% are collected in the month following the sale, and 18% are collected in the second month following the sale.

    Required:
    Calculate the estimated cash receipts for September, October, and November.
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
    Ultra Member
    		  
    #2

    Jun 11, 2012, 02:35 PM
    Quote Originally Posted by needygirl View Post
    Flagstaff Co. has actual sales for July and August and forecast sales for September, October, November, and December as follows:


    Actual:
    July $ 73,500
    August 78,750
    Forecasted:
    September 85,500
    October 70,500
    November 91,500
    December 80,250

    Based on past experience, it is estimated that 30% of a month's sales are collected in the month of sale, 50% are collected in the month following the sale, and 18% are collected in the second month following the sale.

    Required:
    Calculate the estimated cash receipts for September, October, and November.
    Let's us see your results
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