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FOURHEAD Co. has the following expected pattern of collections on credit sales 70% collected in the month of sale, 15% mthe month after the month
FOURHEAD Co. has the following expected pattern of collections on credit sales 70% collected in the month of sale, 15% mthe month after the month of sale, and 14% in the second month after the month of sale. The remaining 1% is never collected. At the end of May, FOURHEAD Co. has the following accounts receivable balances: From April sales From May sales P21,000 48,000 FOURHEAD Co's expected sales for June are P150,000. Determine how much cash the company expects to collect in June
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