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3. Camp and Fevurly Financial Planners have forecasted revenues for the first six months of 2015, as shown in the following table Month Revenue Month
3. Camp and Fevurly Financial Planners have forecasted revenues for the first six months of 2015, as shown in the following table Month Revenue Month Revenue 24,000 $38,400 March November 2014 30,400 December 36,000 April 20,000 May January 2015 32,000 February 21,600 June 36,000 The firm collects 60% of its sales immediately, 39% one month after the sale, and 1% are written off as bad debts two months after the sale. The firm assumes that wages and benefits paid to clerical personnel will be $7,000 per month while commissions to sales associates average 25% of collectable sales. Each of the two partners is paid $5,000 per month or 20% of net sales, whichever is greater. Commissions and partner salaries are paid one month after the revenue is earned. Rent expense for their office space is $3,500 per month, and lease expense for office equipment
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