Question
Consider a company that has sales in May, June, and July of $10.3 million, $12.3 million, and $9.3 million, respectively. The firm is paid by
| Consider a company that has sales in May, June, and July of $10.3 million, $12.3 million, and $9.3 million, respectively. The firm is paid by 35 percent of its customers in the month of the sale, 40 percent in the following month, and 22 percent in the next month (3 percent are bad sales and never pay). What is the cash collected in July? (Enter your answer in millions of dollars rounded to 2 decimal places.) |
| Cash collected | $ million |
| Consider a company that has sales in May, June, and July of $11.1 million, $10.1 million, and $12.1 million, respectively. The firm is paid by 30 percent of its customers in the month of the sale, 40 percent in the following month, and 27 percent in the next month (3 percent are bad sales and never pay). What is the cash collected in July? (Enter your answer in millions of dollars rounded to 2 decimal places.) |
| Cash collected | $ million |
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Public Finance
Authors: Richard W. Tresch
2nd Edition
0126990514, 978-0126990515
