Cloudy Company had the following historical collection pattern for its credit sales: 75% collected in...
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Cloudy Company had the following historical collection pattern for its credit sales: 75% collected in the month of sale 12% collected in the first month after month of sale 8% collected in the second month after month of sale 3% collected in the third month after month of sale 2% uncollectible The sales on open account (credit sales) have been budgeted for the last six months of the year as shown below: July August September October November December $ 73,000 $ 85,000 $ 97,000 $ 109,000 $ 121,000 $ 103,000 The estimated total cash collections by Cloudy Company during November from collection of accounts receivable is
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