Suzie Q's has these projected sales estimates: The company collects 18 percent of its sales in the month of sale,69 percent in the month following the month of sale,and another 11 percent in the second month following the month of sale.Two percent of sales are never collected.What is the amount of the September collections?

Question

Suzie Q's has these projected sales estimates:  The company collects 18 percent of its sales in the month of sale,69 percent in the month following the month of sale,and another 11 percent in the second month following the month of sale.Two percent of sales are never collected.What is the amount of the September collections?

Quizplus · Accepted Answer

September collections = (0.18 × $28,400) + (0.69 × $27,800) + (0.11 × $26,500) = $27,209

Suzie Q's Has These Projected Sales Estimates: the Company