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$3,000,000 x 7 = $2,100,000 (June receivables collected in June). This leaves $900,000 yet to be collected.
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$3,000,000 x 7 = $2,100,000 (July billings collected in July). In addition 90% of June’s uncollected receivables will be collected. $900,000 x 9 = $810,000. $2,100,000 + $810,000 = $2,910,000 will be collected in July. ($90,000 will never be collected)
Without performing calculations, how would the answer change if Logan bills customers in the month following the month of sale? Without performing calculations, how would the answer change if Logan bills customers in the month following the month of sale?