Coolidge 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
8 percent in the second month following the sale
2 percent uncollectible
The company has recent credit sales as follows:
$$\begin{array} { l l }
\text { Apri: } & \$200,000 \
\text { Muy: } & 420,000 \
\text { Jus: } & 350,000
\end{array}$$
How much should the company expect to collect on its receivables in June?

Question

Coolidge 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
8 percent in the second month following the sale
2 percent uncollectible
The company has recent credit sales as follows:
 $$\begin{array} { l l } 
\text { Apri: } & \$200,000 \
\text { Muy: } & 420,000 \
\text { Jus: } & 350,000
\end{array}$$ 
How much should the company expect to collect on its receivables in June?

Quizplus · Accepted Answer

The Answer of Coolidge 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
8 percent in the second month following the sale
2 percent uncollectible
The company has recent credit sales as follows:
 $$\begin{array} { l l } 
\text { Apri: } & \$200,000 \
\text { Muy: } & 420,000 \
\text { Jus: } & 350,000
\end{array}$$ 
How much should the company expect to collect on its receivables in June?

Coolidge Company Has the Following Collection Pattern for Its Accounts Apri: $200,000 Muy: 420,000 Jus: 350,000\begin{array} { l l } \text { Apri: } & \$200,000 \\\text { Muy: } & 420,000 \\\text { Jus: } & 350,000\end{array} Apri: Muy: Jus: ​$200,000420,000350,000​

Coolidge Company Has the Following Collection Pattern for Its Accounts $\begin{array} { l l } \text { Apri: } & \$200,000 \\\text { Muy: } & 420,000 \\\text { Jus: } & 350,000\end{array}$