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Budgeting Cash Collections Spencer Consulting, which invoices its clients on terms 2/10, n/30, had credit sales for May and June of $112,000 and $128,000, respectively.

Budgeting Cash Collections Spencer Consulting, which invoices its clients on terms 2/10, n/30, had credit sales for May and June of $112,000 and $128,000, respectively. Analysis of Spencer's 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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