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What will be steve total cash collections in the month

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Problem 1: Steve's Discount Appliances expects sales of $15,000, $18,000, and $25,000 during April, May, and June (big sale in June). To build business, Steve let's all customers buy on credit, and all do so. In the past, 20% of Steve's Discount Appliances sales have been collected during the month of sale, 65% are collected the following month, and 15% the month after that. If this trend continues, what will be Steve's total cash collections in the month of June?

Reference no: EM132933950

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