Farris estimates that it will collect 30 in the month of, Finance Basics

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Farris estimates that it will collect 30 in the month of

Farris Co.'s projected sales are as follows.

August $240,000 September $270,000 October $330,000

Farris estimates that it will collect 30% in the month of sale, 50% in the month after the sale, and 18% in the second month following the sale. Two percent of all sales are estimated to be bad debts. How much are Farris Co.'s budgeted cash receipts for October?

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