The management of Indigo Industries estimates that credit sales for August, September, October, and November will be $535,000, $730,000, $825,000, and $470,000, respectively. Experience has shown that collections are In month of sale In first month after sale In second month after sale Determine the collections from customers in October and November. (Do not leave any field blank. Enter 0 for the amounts.) Collections from Customers August Sales September Sales October Sales 25% 60% 10% November Sales $ Total budgeted collections $ October $ $ November
The management of Indigo Industries estimates that credit sales for August, September, October, and November will be $535,000, $730,000, $825,000, and $470,000, respectively. Experience has shown that collections are In month of sale In first month after sale In second month after sale Determine the collections from customers in October and November. (Do not leave any field blank. Enter 0 for the amounts.) Collections from Customers August Sales September Sales October Sales 25% 60% 10% November Sales $ Total budgeted collections $ October $ $ November
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The management of Indigo Industries estimates that credit sales for August, September, October, and November will be $535,000, $730,000, $825,000, and $470,000, respectively. Experience has shown that collections are made as follows:
In month of sale
In first month after sale
In second month after sale
Collections from Customers
August Sales
Determine the collections from customers in October and November. (Do not leave any field blank. Enter 0 for the amounts.)
September Sales
October Sales
25%
November Sales
60%
10%
$
Total budgeted collections $
October
$
November
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