Answer:
Total= $65,100
Explanation:
Giving the following information:
Wells Company reports the following sales forecast: September, $55,000; October, $66,000; and November, $80,000.
Collections of credit sales are received as follows: 25% in the month of sale, 60% in the first month after sale, and 10% in the second month after sale. 5% of all credit sales are written off as uncollectible.
Cash collection November:
November= 80,000*0.25= 20,000
From October= 66,000*0.6= 39,600
From September= 55,000*0.10= 5,500
Total= $65,100
