Based on past experiance, it is estimated the 30% of a month's sales are collected in the the month of the sale, 50% are collected in the month following sale, and 18% are collected in the second month following the sale.Calculate the estimated cash receipts for September, October, and November.
- Actual:
- July $73,500
- August $78,750
- Forcasted
- September $85,500
- October $70,500
- November $91,500
- December $80,250