ACME Inc.,a music publishing firm located in Tennessee,bills its clients on the first of the month.For example,any sale made in the month of July is billed August 1 and is due September 1.Clients traditionally pay as follows: 70% by the end of the first month (August),20% by the end of the second month (September),9% by the end of the third month (October),and 1% default on their bills.If accounts receivable are collected as anticipated,what is the last month in which January sales will be collected? $$\begin{array} { | l | l | l | l | l | l | }
\hline & { \text { First-Quarter Actual Sales } } & && { \text { Second-Quarter Anticipated Sales } } \
\hline \text { January } & \text { February } & \text { March } & \text { April } & \text { May } & \text { June } \
\hline \$ 88,000 & \$ 74,000 & \$ 96,000 & \$ 99,000 & \$ 82,000 & \$ 63,000 \
\hline
\end{array}$$

Question

ACME Inc.,a music publishing firm located in Tennessee,bills its clients on the first of the month.For example,any sale made in the month of July is billed August 1 and is due September 1.Clients traditionally pay as follows: 70% by the end of the first month (August),20% by the end of the second month (September),9% by the end of the third month (October),and 1% default on their bills.If accounts receivable are collected as anticipated,what is the last month in which January sales will be collected? $$\begin{array} { | l | l | l | l | l | l | } 
\hline & { \text { First-Quarter Actual Sales } } & && { \text { Second-Quarter Anticipated Sales } } \
\hline \text { January } & \text { February } & \text { March } & \text { April } & \text { May } & \text { June } \
\hline \$ 88,000 & \$ 74,000 & \$ 96,000 & \$ 99,000 & \$ 82,000 & \$ 63,000 \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of ACME Inc.,a music publishing firm located in Tennessee,bills its clients on the first of the month.For example,any sale made in the month of July is billed August 1 and is due September 1.Clients traditionally pay as follows: 70% by the end of the first month (August),20% by the end of the second month (September),9% by the end of the third month (October),and 1% default on their bills.If accounts receivable are collected as anticipated,what is the last month in which January sales will be collected? $$\begin{array} { | l | l | l | l | l | l | } 
\hline & { \text { First-Quarter Actual Sales } } & && { \text { Second-Quarter Anticipated Sales } } \
\hline \text { January } & \text { February } & \text { March } & \text { April } & \text { May } & \text { June } \
\hline \$ 88,000 & \$ 74,000 & \$ 96,000 & \$ 99,000 & \$ 82,000 & \$ 63,000 \
\hline
\end{array}$$

ACME Inc,a Music Publishing Firm Located in Tennessee,bills Its Clients on on the First