The table contains the Sales estimates for the next year. Sales are collected as follows: In the month of Sales: 27% In the next month: 29% After 2 months: 11% After 3 months: remainder is collected What is the cash collection for August? Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box. Sales Month Jan Feb Mar Apr May June 74,109 82,072 82,374 72,362 74,109 82,072 Month Sales $ July Aug Sep Oct Nov Dec 72,362 82,374 74,109 82,374 82,072 72,362

The table contains the Sales estimates for the next year. Sales are collected as follows: In the month of Sales: 27% In the next month: 29% After 2 months: 11% After 3 months: remainder is collected What is the cash collection for August? Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box. Sales Month Jan Feb Mar Apr May June 74,109 82,072 82,374 72,362 74,109 82,072 Month Sales $ July Aug Sep Oct Nov Dec 72,362 82,374 74,109 82,374 82,072 72,362

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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