Question
9. Cash collections for Wax On Candles found that 54% of sales were collected in the month of the sale, 35% was collected the month
9. Cash collections for Wax On Candles found that 54% of sales were collected in the month of the sale, 35% was collected the month after the sale, and 4% was collected the second month after the sale. Given the sales shown, how much cash will be collected in January? Round to the nearest penny, two decimal places.
Wax On Candles data
Month | November | December | January | February |
---|---|---|---|---|
Sales | $29,460 | $25,162 | $24,339 | $22,396 |
10. Nonna's Re-Appliance Store collects 52% of its accounts receivable in the month of sale and 40% in the month after the sale. Given the following sales, how much cash will be collected in February? Round to the nearest penny, two decimal places.
Month. December. January. February
Sales $22,400. $53,815 $68,594
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