Calculate the amount of caseys expected cash collections

Reference no: EM13270576

Casey Productions needs to know its anticipated cash inflows for the next quarter by month. Cash sales are 10 percent of total sales each month. Historically, credit sales on account have been collected as follows: 60 percent in the month of sale, 30 percent in the month after the sale, and the remaining 10 percent two months after the sale. Sales for the quarter are projected as follows: April, $60,000; May, $50,000; and June, $70,000. Accounts receivable on March 31 were $30,000. Calculate the amount of Casey's expected cash collections for June.

Reference no: EM13270576

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