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Compute the anticipated cash inflow for the month of august

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Question - The following credit sales are budgeted by Milford Company:

May $136,000

June 200,000

July 280,000

August 240,000

The company's past experience indicates that 70% of the accounts receivable are collected in the month of sale, 20% in the month following the sale, and 8% in the second month following the sale. The anticipated cash inflow for the month of August is

$240,000.

$246,880.

$235,200.

$224,000.

Reference no: EM131781451

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