A music publishing firm located in Texas, bills its clients on the first of the

Question

A music publishing firm located in Texas, bills its clients on the first of the month. For example any

sale make in the month of July get billed on August 1 and is due Sept 1.

Clients traditionally pay as follows: 50% at the end of the first month,

40% at the end of the second month, 8%  at the end of the third month,

and 2% default on their bills. If accounts recievable are collected as anticipated

what is the last month in which January bills will be collected?

Jan               Feb            Mar               April             May             June

88, 000     74,000       96,000        99,000     82,000          63,000

Explanation / Answer

the last month will be march

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