Big Boats is a manufacturer of yachts dealing with high value customers in Southern Florida....
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Accounting
Big Boats is a manufacturer of yachts dealing with high value customers in Southern Florida. Based on experience, they anticipate cash collections to occur as outlined below:
25% in the month of the sale
50% in the month after the sale
23% two months after the sale
2% are written off as bad debts and will never be collected
Sales for the last three months are given below.
| March | April | May |
| 346,503 | 368,549 | 407,207 |
How much cash did Big Boats Collect during the month of May? Round your answer to the nearest whole number.
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