Question
****************Please do not copy the answer from Chegg answers similar to this question, they are not the same numbers********************** Smiths Discount Appliances expects sales of
****************Please do not copy the answer from Chegg answers similar to this question, they are not the same numbers**********************
Smiths Discount Appliances expects sales of $5,000, $10,000, and $20,000 during April, May, and June (big sale in June). To build business, Smith lets all customers buy on credit, and all do so. In the past, 30% of Smiths Discount Appliances sales have been collected during the month of sale, 55% are collected the following month, and 15% the month after that. If this trend continues, what will be Smiths total cash collections in the month of June?
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