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A company is estimating the following sales for the first six months of the next year Jan $350,000 Feb $300,000 Mar $320,000 Apr $410,000 May
A company is estimating the following sales for the first six months of the next year
Jan $350,000
Feb $300,000
Mar $320,000
Apr $410,000
May $450,000
Jun $470,000
Sales are normally collected at 70% in the month of sale, 25% in the month following the sale and the remaining 5% being uncollectable. Customers paying in the month of sale are given a 2% discount. How much cash should the company expect to collect in April?
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