E Co. has the following expected pattern of collections on credit sales: 70 perc

Question

E Co. has the following expected pattern of collections on credit sales: 70 percentcollected in the month of sale, 15 percent in the month after the month of sale, and 14 percent in the second month after the month of sale. The remaining 1 percent is never collected. At the end of May, E Co. has the following accounts receivable balances:From April sales $21,000From May sales 48,000E

¶s expected sales for June are $150,000.

What were total sales for April?

a. $150,000

b. $72,414

c. $70,000

d. $140,000

Explanation / Answer

Ans $140000

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