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Halifax Shoes has 30% of its sales in cash and the remainder on credit. Of the...

Halifax Shoes has 30% of its sales in cash and the remainder on credit. Of the credit sales, 65% is collected in the month of sale, 25% is collected the month after the sale, and 5% is collected the second month after the sale. How much cash will be collected in August if sales are estimated as $75,000 in June, $63,000 in July, and $94,000 in August?

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Answer #1

The cash receivable for the august month is $79,843

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