Lash Corporation has the following sales budget for the last half of 2000:

Lash Corporation has the following sales budget for the last half of 2000:

(Assume all credit sales)

July $100000 October $90000

August 80000 November 100000

September 110000 December 94000

Historically the cash collection of sales has been as follows:

65 percent of sales collected in month of sale

25 percent of sales collected in month following sale and

10 percent of sales collected in second month following sale.

1.) What are the expected cash collections in September?

2.) What is accounts receivable at September 30?

3.) What are the expected cash collections in November?

4.) What are the expected cash collections in
December?

5.) What is accounts Receivable at December
31?