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Lawyer and Company is a legal services firm. All sales of legal services are billed to the client (there are no cash sales). Lawyer expects
Lawyer and Company is a legal services firm. All sales of legal services are billed to the client (there are no cash sales). Lawyer expects that, on average, 20% will be paid in the month of billing, 50% will be paid in the month following the billing and 25% will be paid in the second month following the billing. For the next 4 months, the following sales billings are expected:
June | $100,800 |
July | 77,000 |
August | 86,800 |
September | 91,000 |
What is the amount of cash expected to be collected in the month of September?
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