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Cash collections for Wax On Candles found that 60% of sales were collected in the month of the sale, 30% was collected the month after
Cash collections for Wax On Candles found that 60% of sales were collected in the month of the sale, 30% was collected the month after the sale, and 10% was collected the second month after the sale. Sales for November through February are shown.
Nov. Dec. Jan. Feb. $25,000 $35,000 $20,000 $25,000
A. Based on these sales, how much cash will be collected in January?
B. Based on these sales, how much cash will be collected in February?
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