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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Ryan Co. projects the following monthly revenues for next year:
|
January |
$100,000 |
|
February |
500,000 |
|
March |
425,000 |
|
April |
450,000 |
|
May |
575,000 |
|
June |
300,000 |
|
July |
$250,000 |
|
August |
275,000 |
|
September |
300,000 |
|
October |
350,000 |
|
November |
400,000 |
|
December |
525,000 |
Ryan’s terms are net 30 days. The company typically receives payment on 80% of sales the month following the sale, and 17% is collected two months after the sale. Approximately 3% of sales are deemed bad debt. What amount represents the expected cash collection in the second calendar quarter of next year?
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