ALTM Company expects the following sales amounts for months in the upcoming year: April May June July August September October $ 100.000 $ 115.000 $...
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Topic: Managerial Accounting - Master Budgeting

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1. ALTM Company expects the following sales amounts for months in the upcoming year: April May June July August September October $ 100.000 $ 115.000 $ 110,000 $ 1 15,000 $ 130,000 $ 140,000 $ 154,000 ALTM past collection pattern is: 30% in month of sale, 60% in month following sale, 8% in 2nd month following sale, and 2% uncollectible. Prepare the expected cash collected for the third quarter (July, August, September, and total for the quarter). (10 pts) What is the accounts receivable balance at the end of September? (3 pts)

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