Question
ABC Company has the following projected sales: Month Sales Jan $2,480 Feb $2,504 Mar $16,491 Apr $38,547 21% of the sales are collected in the
ABC Company has the following projected sales:
| Month | Sales |
| Jan | $2,480 |
| Feb | $2,504 |
| Mar | $16,491 |
| Apr | $38,547 |
21% of the sales are collected in the same month. 18% of the sales are collected after one month, 15% of the sales are collected after two months, and the remainder are collected after three month. What is the amount of the April collections?
Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box. For example, if your answer is $12.345 then enter as 12.35 in the answer box.
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
