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The management of Morton Company estimates that credit sales for August, September, October, and November...

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Question

Accounting

The management of Morton Company estimates that credit sales for August, September, October, and November will be $180,000, $200,000, $230,000, and $160,000, respectively. Experience has shown that collections are made as follows:

In month of sale 25%

In first month after sale 60%

In second month after sale 10%

Instructions

Determine the collections from customers in October and November. Show all computations.

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