Roberts Discount Appliances expects sales of $10,000, $15,000, and $25,000 during April, May, and June (big sale in June). To build business, Smith let's all customers buy on credit, and all do so. In the past, 30% of Smith's Discount Appliances sales have been collected during the month of sale, 55% are collected the following month, and 15% the month after that. If this trend continues, what will be Smith's total cash collections in the month of June?

Answer rating: 100% (QA)

To calculate Smiths total cash collections in the month of June we need to consider the sales ... View the full answer