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All of Thomas Sales are on credit. The credit sales are collected as follows: Percent paid in month of sale 60% Percent paid in first
All of Thomas Sales are on credit. The credit sales are collected as follows:
Percent paid in month of sale 60%
Percent paid in first month after the sale 25%
Percent paid ion second month after sale 15%
The sales for the period under investigation are:
January $400,000
February $700,000
March $800,000
April $1,000,000
May $1,200,000
June $800,000
July $900,000
August $500,000
How much cash will Thomas receive in June for April sales?
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