The sales for October,November and December are $10,000,$12,000 and $18,000,respectively.For any particular month of sales,the following percentages are received over time in cash: 20% in cash from that same month of sales;50% in cash from the previous month's sales;and,30% in cash from the sales from two months ago.What amount of cash will be received during December?
A)$12,600
B)$12,000
C)$9,600
D)$9,000

Question

Quizplus · Accepted Answer

To find out the amount of cash received in December, we need to calculate the cash received from October, November, and December sales separately.

The cash received in December from December sales = 20% of $18,000 = $3,600

The cash received in December from November sales = 50% of $12,000 = $6,000

The cash received in December from October sales = 30% of $10,000 = $3,000

Therefore, the total cash received in December is $3,600 + $6,000 + $3,000 = $12,600. Hence, the best choice is A.

The Sales for October,November and December Are $10,000,$12,000 and $18,000,respectively