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ABC Company has the following projected sales: Month Sales $ April 36,507 May 43,593 June 31,949 July 40,484 ABC collects 57 percent of its sales in the month of sale, 23 percent in the month following the month of sale, and another 1 percent in the second month following the month of sale. The remainder is bad debts and is not collected. What is the amount of the July collections? Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box. For example, if your answer is $12.345 then enter as 12.35 in the answer box.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92064310

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