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How much cash should thomas expect to collect

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Reference no: EM132540461

Thomas Co is estimating the following sales for the first six months of next year

Month                amount ($)

January              350,000

February               300,000

March                  320,000

April                   410,000

may                      450,000

June                       470,000

Question 1: Sales at Thomas are normally collected as 70% in the month of sale, 25% in the month following the sale, and the remaining 5% being uncollectible. Also, those customers paying in the month of sales are given a 2% discount. Based on this information, how much cash should Thomas expect to collect during the month of April?

Reference no: EM132540461

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