Atlas Builders deals strictly with five customers. The average amounts these customers pay per month are $17,400, $15,900, $22,500, $57,800, and $64,300. The smaller two payments have a collection delay of three days while the others only have a one-day delay. Assume each month has 30 days. What is the amount of the average daily receipts?

Question

Quizplus · Accepted Answer

The average daily receipts are calculated by dividing the total monthly receipts by the number of days in a month. The total monthly receipts are the sum of the average amounts paid by each customer, which is $17,400 + $15,900 + $22,500 + $57,800 + $64,300 = $177,900. The number of days in a month is 30. Therefore, the average daily receipts are $177,900 / 30 = $5,930.

Atlas Builders Deals Strictly with Five Customers