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All of Thomas' Sales are on credit. The credit sales are collected as follows: Percent paid in month of sale 50% Percent paid in first
All of Thomas' Sales are on credit. The credit sales are collected as follows: Percent paid in month of sale 50% Percent paid in first month after the sale 25% Percent paid ion second month after sale 15% Percent paid in third month after sale 10% The sales for the period under investigation are: January $400,000 February $700,000 March $800,000 April $1,000,000 May $1,400,000 June $800,000 July $900,000 August $500,000 How much cash will Thomas receive in June for February sales
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