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 |
140,000 |
|
May |
450,000 |
|
June |
47,000 |
Sales at Tolla are normally collected as 70 percent in the month of sale, 25 percent in the month following the sale, and the remaining 5 percent being uncollectible. Also, customers paying in the month of sale are given a 2 percent discount. Based on this information, how much cash should Tolla expect to collect during the month of April?