Problem 3 Malcom Co.’s forecast of sales is as follows: September $350,000; October $450,000; No

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Problem 3 Malcom Co.s forecast of sales is as follows: September $350,000; October $450,000; November $600,000; December $80 Problem 3 Malcom Co.'s forecast of sales is as follows: September $350,000; October $450,000; November $600,000; December $800,000. Sales are 45% cash and 55% credit in any month. Credit sales are collected in full in the following month. 1. Determine the budgeted cash receipts for each of October November and December? 2. Calculate the balance of Accounts Receivable on October 31 & November 30?

 
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