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Clooney Company has the following expected pattern of collections on credit sales: - 70 percent collected in the month of sale. - 15 percent in
Clooney Company has the following expected pattern of collections on credit sales: - 70 percent collected in the month of sale. - 15 percent in the month after the month of sale. - 14 percent in the second month after the month of sale. - The remaining 1 percent is never collected. At the end of May, Clooney Company has the following accounts receivable balances: From April sales $26000 From May sales $44000 Clooney's expected sales for June are $220000. How much cash will Clooney Company expect to collect in June (cash collections)? (round answers to the nearest whole dollar - do not round intermediate calculations.)
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