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Month Sales $ Month Sales $ Jan 88,498 July 28,618 Feb 34,044 Aug 58,273 Mar 58,273...

Month Sales $ Month Sales $ Jan 88,498 July 28,618 Feb 34,044 Aug 58,273 Mar 58,273 Sep 88,498 Apr 28,618 Oct 58,273 May 88,498 Nov 34,044 June 34,044 Dec 28,618 The table contains the Sales estimates for the next year. Sales are collected as follows: In the month of Sales: 33% In the next month: 21% After 2 months: 7% After 3 months: remainder is collected What is the cash collection for September? Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box.

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Answer #1

Solution:

Collection for June Sales (34044*39%) 13277.16
Collection for July Sales (28618*7%) 2003.26
Collection for August Sales (58273*21%) 12237.33
Collection for September Sales (88498*33%) 29204.34
Total cash collection for September 56722.09
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