Tolla Company is estimating the following sales for the first six months of next
ID: 2376332 • Letter: T
Question
Tolla Company is estimating the following sales for the first six months of next year:
January $350,000
February $300,000
March $320,000
April $410,000
May $450,000
June $470,000
Sales at Tolla are normally collected as 70 percent in the month of sale, 25 percent in the month following the sale, and remaining 5 percent being uncollectible. Also, customers paying in the month, of sale are given a 2 percent discount. Based on this information, how many cash should Tolla expect to collect during the month of April?
Explanation / Answer
$361,260