1)A consultancy firm has two types of clients, small and large. 62% of clients are small.

Historical patterns of billing receipts are presented as follows:

Small clients Large clients

During month of service 20% 10%

During month following service 50% 40%

During second month following service 20% 40%

Uncollectable 10% 10%

Sales forecast in the second half of the year is as follows:

Month. Estimated amount

July $4,500,000

August 5,000,000

September 5,500,000

October 5,700,000

November 5,800,000

December 5,500,000

What is the expected amount of cash received in November?