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Question: Tim's industrial Products forecasts the following TOTAL sales figures for the next three months. April, $800,000 - May, $750,000 - June, $900,000. Cash sales average 20 percent of total sales and credit sales represent 80 percent of total sales. Credit sales are collected 70 percent in the month following sale and two percent of the credit sales are uncollectible. Cavin's does not provide customers a discount for early payment. The total estimated cash received in June would be:

$ _________________

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92571912

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