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The Lumber Yard has the following projected sales: April $142,100, May $164,600, June $177,900, and July $179,500. The firm collects 50 percent of its sales
The Lumber Yard has the following projected sales: April $142,100, May $164,600, June $177,900, and July $179,500. The firm collects 50 percent of its sales in the month of sale, 47 percent in the month following the month of sale, and another 2 percent in the second month following the month of sale. The firm never collects 1 percent of its sales. What is the amount of the July collections? A. $169,819 B. $171, 508 C. $173,215 D. $175,500 E. $176,655
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