Determine the collections from customers


The management of Horton Company estimates that credit sales for August, September, October, and November will be $270,000, $375,000, $420,000, and $240,000, respectively. Experience has shown that collections are made as follows:

In month of sales 25%
In first month after sale 60%
In second month after sales 10%

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

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Accounting Basics: Determine the collections from customers
Reference No:- TGS055631

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