Clay Co.'s projected sales are as follows: $$\begin{array} { l l }
\text { August } & \$ 400,000 \
\text { September } & \$ 450,000 \
\text { October } & \$ 550,000
\end{array}$$ Clay estimates that it will collect 30% in the month of sale 50% in the month after the sale and 18% in the second month following the sale. Two percent of all sales are estimated to be bad debts.
Instructions
How much are Clay Co.'s budgeted cash receipts for October?

Question

Clay Co.'s projected sales are as follows: $$\begin{array} { l l } 
\text { August } & \$ 400,000 \
\text { September } & \$ 450,000 \
\text { October } & \$ 550,000
\end{array}$$ Clay estimates that it will collect 30% in the month of sale 50% in the month after the sale and 18% in the second month following the sale. Two percent of all sales are estimated to be bad debts.
Instructions
How much are Clay Co.'s budgeted cash receipts for October?

Quizplus · Accepted Answer

The Answer of Clay Co.'s projected sales are as follows: $$\begin{array} { l l } 
\text { August } & \$ 400,000 \
\text { September } & \$ 450,000 \
\text { October } & \$ 550,000
\end{array}$$ Clay estimates that it will collect 30% in the month of sale 50% in the month after the sale and 18% in the second month following the sale. Two percent of all sales are estimated to be bad debts.
Instructions
How much are Clay Co.'s budgeted cash receipts for October?

Clay Co'S Projected Sales Are as Follows August $400,000 September $450,000 October $550,000\begin{array} { l l } \text { August } & \$ 400,000 \\\text { September } & \$ 450,000 \\\text { October } & \$ 550,000\end{array} August September October ​$400,000$450,000$550,000​

Clay Co'S Projected Sales Are as Follows $\begin{array} { l l } \text { August } & \$ 400,000 \\\text { September } & \$ 450,000 \\\text { October } & \$ 550,000\end{array}$