The Lumber Yard has projected sales for April through July of $152,400, $161,800, $189,700, and $196,400, respectively. The firm collects 52 percent of its sales in the month of sale, 46 percent in the month following the month of sale, and the remainder in the second month following the month of sale. What is the amount of the July collections? a - $189,819b - $181,508c - $122,852d - $175,500e - $192,626

Question

Business

Pablo Fowler

7 December, 06:44

The Lumber Yard has projected sales for April through July of $152,400, $161,800, $189,700, and $196,400, respectively. The firm collects 52 percent of its sales in the month of sale, 46 percent in the month following the month of sale, and the remainder in the second month following the month of sale. What is the amount of the July collections? a - $189,819b - $181,508c - $122,852d - $175,500e - $192,626

+3

Answers (1)

Know the Answer?

Demarion Buck · Answer 1

The amount of the July collections is e - $192,626

Explanation:

The amount of the July collections = 52% sales in the month of July + 46% sales in the month of June + 2% sales in the month of May

Lumber Yard has projected sales for May of $161,800, June of $189,700, and July of $196,400

The amount of the July collections = 52% x $196,400 + 46% x $189,700 + 2% x $161,800 = $102,128 + $87,262 + $3,236 = $192,626