Company has the following historical pattern on its credit sales: 70% collected in the month of sale; 15% collected in the 1st month after the sale; 10% collected in the 2nd month after the sale; 4% collected in the 3rd month after the sale; and 1% uncollectible. The sales on open account have been budgeted for the last six months of 2021 as follows: July P60,000; August P70,000; September P80,000; October P90,000; November P100,000; and December P85.000. 1. How much is the total collection for the month of October? 2. How much is the total collection made from October sales? 3. How much is the total collection for the 2nd month o
The Ohio Company has the following historical pattern on its credit sales: 70% collected in the month of sale; 15% collected in the 1st month after the sale; 10% collected in the 2nd month after the sale; 4% collected in the 3rd month after the sale; and 1% uncollectible. The sales on open account have been budgeted for the last six months of 2021 as follows: July P60,000; August P70,000; September P80,000; October P90,000; November P100,000; and December P85.000.
1. How much is the total collection for the month of October?
2. How much is the total collection made from October sales?
3. How much is the total collection for the 2nd month of the last quarter?
4.
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