Sioux Company is estimating the following sales for the first six months of next year:
Sales at Sioux are normally collected as 60% in the month of sale, 35% in the month following the sale, and the remaining 5% being uncollectible. Based on this information, how much cash should Sioux expect to collect during the month of April?
Expected collection during the month of April
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This provides the steps to calculate the expected collection during the month of April