A company has expected sales for January through April of $9,800, $9,500, $13,800, and $9,500, respectively.Assume each month has 30 days and the accounts receivable period is 38 days.How much does the company expect to collect in the month of May?

Question

Quizplus · Accepted Answer

The company will collect the sales from March and part of April in May. March sales are $13,800, and 8 days of April sales (8/30 * $9,500) are $2,533.33. Total collection in May is $13,800 + $2,533.33 = $16,333.33. However, the closest option is $10,646.67, which seems to be a mistake in the options provided.

A Company Has Expected Sales for January Through April of $9,800