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Lees Appliances forecasts the following sales figures for the next four months. April May June July $250,000 $150,000 $225,000 $150,000 Cash sales average 10% of
Lees Appliances forecasts the following sales figures for the next four months.
April | May | June | July |
$250,000 | $150,000 | $225,000 | $150,000 |
Cash sales average 10% of total sales and credit sales are collected 50% in the month of sale and 50% in the month following sale. What are the estimated cash collections in June?
a.
$191,250
b.
$207,500
c.
$195,000
d.
$150,000
e.
some other figure not listed here
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