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Lasher Company's budget includes the following credit sales for the current year: September, $26,458; October, $30,405; November, $33,096; December, $37,370. Experience has shown that payment
Lasher Company's budget includes the following credit sales for the current year: September, $26,458; October, $30,405; November, $33,096; December, $37,370. Experience has shown that payment for the credit sales is received as follows: 16% in the month of sale, 55% 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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