Question
Jazzy Janitors has found that only 10% of its invoiced amounts are paid in the same month that the work is completed. 60% are paid
Jazzy Janitors has found that only 10% of its invoiced amounts are paid in the same month that the work is completed. 60% are paid in the month after the work is completed and 30% are paid in the second month after the work is completed. During December, 2013, Jazzy Janitors' invoiced $200,000 to clients. Projected revenues for the first six months of 2014 are given below:
MonthRevenue
January $180,000
February 215,000
March 220,000
April 218,000
May 240,000
June 255,000
What are the expected cash receipts for March, 2014?
Group of answer choices
$224,800
$151,000
$265,000
$205,000
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