During 2007 tom company actual sales on account for may and

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Reference no: EM13601656

During 2007, Tom Company actual sales on account for May and June and estimated sales on account for July, August and September are as follows: May (actual), $250,000; June (actual), $300,000; July, $400,000; August,$600,000; and, September, $320,000. 25% of credit sales are collected in the month of sale, 70% in the following month, and 3% in the next following month.

How much cash may Tom expect to collect during July of 2007? $
How much cash should Tom expect to collect during August of 2007? $
How much cash should Tom expect to collect during September of 2007? $.

Reference no: EM13601656

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