Shalom Company has the following collection pattern for its accounts receivable: 40 percent in the month of sale. 50 percent in the month following the sale. percent in the second month following the sale. 2 percent uncollectible. The company has recent credit sales as follows: April 200,000 May 420,000 June 350,000 How much should the company expect to collect on its receivables in June? Amounts must be in whole numbers. Example: 88,000 or (88,000)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Shalom Company has the following collection pattern for its accounts receivable:
40 percent in the month of sale.
50 percent in the month following the sale.
percent in the second month following the sale.
2 percent uncollectible.
The company has recent credit sales as follows:
April 200,000
May 420,000
June 350,000
How much should the company expect to collect on its receivables in June?
Amounts must be in whole numbers. Example: 88,000 or (88,000)
Transcribed Image Text:Shalom Company has the following collection pattern for its accounts receivable: 40 percent in the month of sale. 50 percent in the month following the sale. percent in the second month following the sale. 2 percent uncollectible. The company has recent credit sales as follows: April 200,000 May 420,000 June 350,000 How much should the company expect to collect on its receivables in June? Amounts must be in whole numbers. Example: 88,000 or (88,000)
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