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How much cash does the company expect to collect in june

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Total billing notices - Jan 58000 Feb 62000 Mar 63000 April 61000 May 66000 June 66000, Cash Collection shows 45 % of billed premiums are paid in the billed month. 45 % are paid in the first month After they are billed. 6 % are paid in the second month after they are billed. 4 % of the billed premiums are paid late. (in the 3rd month after they are billed) and include a 10% penalty payment. How much cash does the company expect to collect in June? I came up with 61604 and it is NOT correct.

Reference no: EM131767532

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