The Warehouse has projected sales for June through September of $56,700, $68,900, $70,200, and $54,300.The company collects 46 percent of its sales in the month of sale, 51 percent in the month following the month of sale, and 2 percent in the second month following the month of sale.The remaining sales are never collected.What is the amount of the August collections?
A) $65,863
B) $68,565
C) $62,158
D) $67,288
E) $65,516
Correct Answer:
Verified
Q58: Wrecker Automotive has sales for the year
Q59: Dover Wholesalers sells products exclusively to Benn
Q60: A company has the following account balances.Which
Q61: Kar's currently has a 208-day operating cycle.The
Q62: The Cash and Grab Market has annual
Q64: The Green Pickle has estimated quarterly sales
Q65: Show Place Decor has estimated quarterly sales
Q66: Metropolitan Realty currently has 54 days in
Q67: Bee's Honey currently has an inventory turnover
Q68: Coolman Outdoor has estimated monthly sales for
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents