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A consultancy firm has two types of clients, small and large. 69% of clients are small. Historical patterns of billing receipts are presented as follows:

A consultancy firm has two types of clients, small and large. 69% of clients are small.

Historical patterns of billing receipts are presented as follows:

Small clientsLarge clients
During month of service20%10%
During month following service50%40%
During second month following service20%40%
Uncollectable10%10%

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

MonthEstimated amount
July$4,500,000
August5,000,000
September5,500,000
October5,700,000
November5,800,000
December5,500,000

What is the expected amount of cash received in December

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