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Myers and Associates, a famous law office in California, bills its clients on the first of each month. Clients pay in the following way: 40%

Myers and Associates, a famous law office in California, bills its clients on the first of each month. Clients pay in the following way:

  • 40% pay at the end of the first month
  • 30% pay at the end of the second month
  • 20% pay at the end of the third month
  • 5% pay at the end of the fourth month
  • 5% default on their bills

The actual and anticipated billings are as follows:

Give the anticipated cash flow for the first quarter of 2018 if the past billings and anticipated billings follow this same pattern. Show your work.

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