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Rexall Steel Corporation estimates that for credit sales, 55% of cash is received in the month of sale; 35% in the month after the sale,
Rexall Steel Corporation estimates that for credit sales, 55% of cash is received in the month of sale; 35% in the month after the sale, and 13% in the second month after the sale. The remainder is never collected. Bendall had credit sales of $78,000 in April; $92,000 in May, and $115,000 in June. Given the following information, determine the cash collections for June.
$95,590
$105,590
$85,590
$115,590
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