The warehouse has projected sales for June through September of 56,700, 68,900,

Question

The warehouse has projected sales for June through September of 56,700, 68,900, 70,200, and 54,300. The company collects 46 percent of its sales in the month of sale, 51 percent in the month of sale, and 2 percent in the second month following the month of sale. The remaining sales are never collected. What is the amount of the August collections?
-62,158 -65,863 -65,516 -68,565 -67,288 The warehouse has projected sales for June through September of 56,700, 68,900, 70,200, and 54,300. The company collects 46 percent of its sales in the month of sale, 51 percent in the month of sale, and 2 percent in the second month following the month of sale. The remaining sales are never collected. What is the amount of the August collections?
-62,158 -65,863 -65,516 -68,565 -67,288
-62,158 -65,863 -65,516 -68,565 -67,288

Explanation / Answer

August collections=(0.46*August)+(0.51*July)+(0.02*June)

=(0.46*70200)+(0.51*68900)+(0.02*56700)

=$68565

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