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How much cash can leminton company expect to collect

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Problem 1: LeMinton Company expects the following credit sales for the first five months of the year: January, $31,000; February, $46,000; March, $36,000; April, $42,000, May $46,000. Experience has shown that payment for the credit sales is received as follows: 60% in the month of sale, 25% in the first month after sale, 12% in the second month after sale, and the remainder is uncollectible. How much cash can LeMinton Company expect to collect in March as a result of credit sales (current and past)?

Reference no: EM132815427

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