Tolla Company is estimating the following sales for the first six months of next

Question

Tolla Company is estimating the following sales for the first six months of next year:

January $350,000

February $300,000

March     $320,000

April        $410,000

May        $450,000

June        $470,000

Sales at Tolla are normally collected as 70 percent in the month of sale, 25 percent in the month following the sale, and remaining 5 percent being uncollectible. Also, customers paying in the month, of sale are given a 2 percent discount. Based on this information, how many cash should Tolla expect to collect during the month of April?

Explanation / Answer

$361,260

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