Problem:
Expected total sales:
Month Sales
January $25,000
February 30,000
March 35,000
April 40,000
The company expects 70% of its sales to be an account (credit sales). Credit sales are collected as follows: 25% in the month of sale, 72% in the month following the sale with the remainder being uncollectible and written off in the month following the sale. The total cash inflows from the collection of receivables in April would be...?