The Austinville Hotel, which hosts a large number of conferences, receives 10% of revenue as a deposit in the month prior to a conference, 50% of revenue is received in the same month that a conference is held and 40% of revenue is collected in the month following a conference. Conference revenue was $70,000, $80,000 and $90,000 in January, February and March, respectively. What conference receipts would have been collected in February?

Question

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In February, the hotel collects 10% of March's revenue ($9,000), 50% of February's revenue ($40,000), and 40% of January's revenue ($28,000), totaling $77,000.

The Austinville Hotel, Which Hosts a Large Number of Conferences