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Budgeting Cash Collections as follows ( percentages are of total monthly credit sales ) : table [ [ , table [ [ Beyond

Budgeting Cash Collections as follows (percentages are of total monthly credit sales):
\table[[,\table[[Beyond],[Receiving],[Discount]]],[In month of sale,50%,20%,70%Spencer Consulting, which invoices its clients on terms 2/10, n/30, had credit sales for May and June of $70,000 and $80,000, respectively. Analysis of Spencers operations indicates that the pattern of customers payments on account is as follows (percentages are of total monthly credit sales):
Receiving Discount Beyond Discount Period Totals
In month of sale 50%20%70%
In month of following sale 15%10%25%
Uncollectible accounts, returns, and allowances 5%
100%
Determine the estimated cash collected on customers accounts in June.
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