A music publishing firm located in Texas bills its clients on the first of the

A music publishing firm located in Texas bills its clients on the first of the month. For example any

sale make in the month of July get billed on August 1 and is due Sept 1.

Clients traditionally pay as follows: 50% at the end of the first month

40% at the end of the second month 8% at the end of the third month

and 2% default on their bills. If accounts recievable are collected as anticipated

what is the last month in which January bills will be collected?

Jan Feb Mar April May June

88 000 74000 96000 99000 82000 63000