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(solution) ABC Company has the following historical collection pattern for


ABC Company has the following historical collection pattern for its credit sales:

65% collected in month of sale
20% collected in the first month after sale
8% collected in the second month after sale
5% collected in the third month after sale
2% uncollectible

Credit sales are for the last 6 months are as follows:

Jul                $35,000

Aug              40,000

Sep               45,000

Oct                50,000

Nov              55,000

Dec               43,000

Calculate the estimated total cash collections during October. 


ABC Company has the following historical collection pattern for its credit sales:

 

65% collected in month of sale

 

20% collected in the first month after sale

 

8% collected in the second month after...

 


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Sep 13, 2020

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