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Free_Kalibri [48]
3 years ago
8

Camellia, a merchandising​ company, has provided the following extracts from their budget for the first quarter of the forthcomi

ng​ year: Jan Feb March Sales ​(25​% ​cash) $ 400 comma 000.00 $ 600 comma 000.00 $ 900 comma 000.00 The company collects 70​% of credit sales in the same month and the balance in the next month. Calculate the collections from the customers for the month of February.
Business
1 answer:
MrRissso [65]3 years ago
8 0

Answer:

<em>555 000 US$ </em>

Explanation:

                <em>Cash sales(25%)                            Credit sales(75%) </em>

January  (400,000*25%)=100000                    (400,000-100000)=300,000

February  (600,000*25%)=150,000            (600,000-150,000)=450,000

Customer collections to the month of February.

= $150,000 + ($450,000 * 0.7) + ($300,000*0.3)

<em>(Balance collections = (100 - 70) = 30%) </em>

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