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A company is working on their budgets for the year 2021. The table below has a few of their expectations for 2021. $49,907 Accounts Receivable
A company is working on their budgets for the year 2021. The table below has a few of their expectations for 2021. $49,907 Accounts Receivable on January 1 Sales in January Sales in February Sales in March $79,314 $67,932 Sales in April $61,226 $55,817 Historically, this company's collection pattern for sales has been 13% as cash sales and 87% on account. The sales on account get collected 70% one month following the sale and the remainder two months following the sale. The Accounts Receivable on January 1 is the result of credit sales in December 2020 and thus is expected to be collected according to the sales on account pattern (70%/30%). How much should this company expect in Cash Collections for the month of January
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