Kessler Service anticipates the following sales revenue over a five-month period:
November December January February March
Sales revenue $16,500 $11,200 $15,200 $13,200 $14,400
The company’s sales are
Its collection history indicates that credit sales are collected as follows:
25% in the month of the sale
50% in the month after the sale
20% two months after the sale
5% are never collected
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How much cash will be collected in January? In February? In March? For the quarter in total?