Esplanade Companys credit sales have the following historical pattern:70% Collec

Esplanade Companys credit sales have the following historical pattern:70% Collected in the month of sale15% Collected in the first month after sale10% Collected in the second month after sale 4% Collected in the third month after sale 1% Uncollectible. These sales on open account (credit sales) have been budgeted for the last six months in 2010:July $60000 October $90000August $70000 November $100000September $80000 December $85000Requirements:1) Determine the estimated total cash collections from accounts receivable during October 2010.2) Compute the estimated total cash collections during the fourth quarter from credit sales of the fourth quarter.