Question
The table contains the Sales estimates for the next year. Sales are collected as follows: In the month of Sales: 31% In the next month:
The table contains the Sales estimates for the next year.
Sales are collected as follows:
In the month of Sales: 31%
In the next month: 34%
After 2 months: 12%
After 3 months: remainder is collected
What is the cash collection for July?
jan $11,979
Feb $10,798
Mar $44,102
Apr- $ 83,738
May-$11,979
June- $10,798
Jul $83,738
Aug- $44,102
Sep $11,979
Oct $44,102
Nov $10,798
Dec $ 83,738
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Financial Markets And Institutions
Authors: Frederic S. Mishkin, Stanley G. Eakins
9th Edition
0134519264, 9780134519265
