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Lara Company's budget includes the following credit sales for the current year: September, $42,000; October, $53,000; November, $47,000; December, $49,000. Experience has shown that payment
Lara Company's budget includes the following credit sales for the current year: September, $42,000; October, $53,000; November, $47,000; December, $49,000. Experience has shown that payment for the credit sales is received as follows: 10% in the month of sale, 65% in the first month after sale, 23% in the second month after sale, and 2% is uncollectible. How much cash can Lara Company expect to collect in November as a result of current and past credit sales?
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