Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Month Sales $ Month Sales $ Jan 13,952 July 10,744 Feb 31,936 Aug 23,846 Mar 23,846 Sep 13,952 Apr 10,744 Oct 23,846 May 13,952 Nov
Month | Sales $ | Month | Sales $ |
Jan | 13,952 | July | 10,744 |
Feb | 31,936 | Aug | 23,846 |
Mar | 23,846 | Sep | 13,952 |
Apr | 10,744 | Oct | 23,846 |
May | 13,952 | Nov | 31,936 |
June | 31,936 | Dec | 10,744 |
Sales are collected as follows:
In the month of Sales: 26% In the next month: 32% After 2 months: 13% After 3 months: remainder is collected
Calculate the cash collection for December.
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.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started