Question
The table contains the Sales estimates for the next year. Sales are collected as follows: In the month of Sales: 25% In the next month:
The table contains the Sales estimates for the next year.
Sales are collected as follows: In the month of Sales: 25% In the next month: 21% After 2 months: 8% After 3 months: remainder is collected
What is the cash collection for November?
| Month | Sales $ | Month | Sales $ |
| Jan | 38,598 | July | 14,125 |
| Feb | 28,240 | Aug | 29,980 |
| Mar | 29,980 | Sep | 38,598 |
| Apr | 14,125 | Oct | 29,980 |
| May | 38,598 | Nov | 28,240 |
| June | 28,240 | Dec | 14,125 |
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Construction accounting and financial management
Authors: Steven j. Peterson
2nd Edition
978-0135017111
