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19 February, 08:16

Joiner Lumber has projected these monthly sales estimates: April $1,800 May $2,400 June $2,700 July $2,900 The firm collects 25 percent of its sales in the month of sale, 60 percent in the month following the month of sale, and another 14 percent in the second month following the month of sale. The firm never collects 1 percent of its sales. What is the amount of cash collections in July

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  1. 19 February, 08:52
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    Total cash collection = $2,681

    Explanation:

    Giving the following information:

    Sales:

    April = $1,800

    May = $2,400

    June = $2,700

    July = $2,900

    The firm collects 25 percent of its sales in the month of sale, 60 percent in the month following the month of sale, and another 14 percent in the second month following the month of sale.

    Cash collection July:

    From July = (2,900*0.25) = 725

    From June = (2,700*0.60) = 1,620

    From May = (2,400*0.14) = 336

    Total cash collection = $2,681
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Home » Business » Joiner Lumber has projected these monthly sales estimates: April $1,800 May $2,400 June $2,700 July $2,900 The firm collects 25 percent of its sales in the month of sale, 60 percent in the month following the month of sale, and another 14 percent in
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