The management of Ocean Industries estimates that credit sales for August September October and November will be $540000 $750000 $840000 and $480000 respectively. Experience has shown that collections are made as follows: $$\begin{array} { l l }
\text { In month of sale } & 25 \% \
\text { In first month after sale } & 60 \% \
\text { In second month after sale } & 10 \%
\end{array}$$ Instructions
Determine the collections from customers in October and November. Show all computations.

Question

The management of Ocean Industries estimates that credit sales for August September October and November will be $540000 $750000 $840000 and $480000 respectively. Experience has shown that collections are made as follows: $$\begin{array} { l l } 
\text { In month of sale } & 25 \% \
\text { In first month after sale } & 60 \% \
\text { In second month after sale } & 10 \%
\end{array}$$ Instructions
Determine the collections from customers in October and November. Show all computations.

Quizplus · Accepted Answer

The Answer of The management of Ocean Industries estimates that credit sales for August September October and November will be $540000 $750000 $840000 and $480000 respectively. Experience has shown that collections are made as follows: $$\begin{array} { l l } 
\text { In month of sale } & 25 \% \
\text { In first month after sale } & 60 \% \
\text { In second month after sale } & 10 \%
\end{array}$$ Instructions
Determine the collections from customers in October and November. Show all computations.

The Management of Ocean Industries Estimates That Credit Sales for August