Memphis Company anticipates total sales for April, May, and June of $$910,000,$ $$1,010,000,$ and $$1,060,000$ respectively. Cash sales are normally $20\%$ of total sales. Of the credit sales, $40\%$ are collected in the same month as the sale, $55\%$ are collected during the first month after the sale, and the remaining $5\%$ are not collected. Compute the amount of cash received from total sales during the month of June.

Answer rating: 100% (QA)

Lets break down the cash sales and credit sales for June Ca... View the full answer