Question
Facey Corporation's sales of tiles are 30% for cash and 70% on credit. Past collection history indicates that credit sales are collected as follows: 20%
Facey Corporation's sales of tiles are 30% for cash and 70% on credit. Past collection history indicates that credit sales are collected as follows:
20% in the month of sale
70% in the month following sale
10% in the second month following sale
Sales are as follow:
January's Sale $60,000
February's sale $65,000
March's sale $80,000
Calculate the collection for March (6 marks)
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Funding And Financing Transport Infrastructure
Authors: Athena Roumboutsos, Hans Voordijk, Aristeidis Pantelias
1st Edition
0367735792, 9780367735791
