A company collects 60% of its sales during the month of sale, 30% one month - 3439

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  • Posted on: Fri 23 Mar, 2012
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Request Description

A company collects 60% of its sales during the month of sale, 30% one month after the sale, and 10% two months after the sale. Expected sales are: $10,000 in August, $20,000 in September, $30,000 in October, and $40,000 in November. How much cash is expected to be collected in October?

a. $15000

b. $25000

c. $35000

d. $60000 

Solution Description

A company collects 60% of its sales during the month of sale, 30% one month af