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Lasher Company's budget includes the following credit sales for the current year: September, $26,736; October, $31,111; November, $34,075; December, $36,898. Experience has shown that payment
Lasher Company's budget includes the following credit sales for the current year: September, $26,736; October, $31,111; November, $34,075; December, $36,898. Experience has shown that payment for the credit sales is received as follows: 10% in the month of sale, 58% in the first month after sale, the remainder in the second month after sale. How much cash can Lasher Company expect to collect in November as a result of current and past credit sales?
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