Ewing Company is preparing a cash budget for September. The following information on accounts receivable...
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Ewing Company is preparing a cash budget for September. The following information on accounts receivable collections is available from past collection experience Percent of current month's sales collected this month Percent of prior month's sales collected this month Percent of sales two months prior to current month collected this month Percent of sales three months prior to current month collected this month 30% 2 The remaining 4 percent is not collected and is written off as bad debts. Credit sales to date are September-estimated August July June S300,000 270,000 260,000 310,000 Required What are the estimated cash receipts from accounts receivable collections in September? Estimated cash receipts
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