The Coates Co. expects to sale 8,000 units in June, 12,000 in July, 10,000 in August, and 9,000 in September. All sales are for $35 per unit. 30% of the sales are cash sales. Of the remaining 70% (the credit sales), Coates collects 37% of them in the month of the sale, 60% in the month after the sale, and fails to collect 3% of credit sales.
What is the expected cash inflow during the month of July?
a. $407,400
b. $352,380
c. $323,085
d. $305,550