July $100,000 October $ 90,000
August $ 80,000 November $100,000
September $110,000 December $ 94,000
Historically, cash collection of sales has been:
65% of sales collected in month of sale
25% of sales collected in month following sale
10% of sales collected in second month following sale
1. What are the expected cash collections in September?
A. $86,000 C. $98,500
B. $97,100 D. $101,500
I got 97.100 if this is incorrect, can somebody help me to solve this problem... thanks