Question

ABC Company has projected Sales of $2402 in January. The sales are expected to grow by...

ABC Company has projected Sales of $2402 in January. The sales are expected to grow by 13%each month. ABC's collection schedule is as follows:

ABC collects 82 percent of its sales in the month of sale and the remainder is collected in the followingmonth. What is the amount of the April cashcollections?

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Answer #1

What is the amount of the April cash collections

=March sales*18%+April sales*82%

=(2402*(1+13%)*(1+13%))*18%+(2402*(1+13%)*(1+13%)*(1+13%))*82%

=3394.07

the above is answer..

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