The following sales budget has been prepared: $\begin{array}{lll}
\text { Month } & \text { Cash Sales } & \text { Credit Sales } \
\text { September } & \$ 100,000 & \$ 200,000 \
\text { October } & 125,000 & 180,000 \
\text { November } & 130,000 & 210,000 \
\text { December } & 135,000 & 190,000
\end{array}$ Collections are 50% in the month of sale, 40% in the month following the sale, and 10% two months following the sale. No uncollectible accounts are anticipated. is the estimated cash collection in November.

Question

Quizplus · Accepted Answer

In November, cash collections include: 50% of November's sales ($130,000 + $210,000) = $170,000, 40% of October's sales ($125,000 + $180,000) = $122,000, and 10% of September's sales ($100,000 + $200,000) = $35,000. Total = $327,000.

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