A firm has forecasted sales of $4000 in January, $6000 in February and $5,500 in March. All sales are on credit. 40% is collected in the month of sale and the remainder the following month. How much is collected from accounts receivable in February?
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A firm has forecasted sales of $4000 in January, $6000 in February and $5,500 in March. All sales are on credit. 40% is collected in the month of sale and the remainder the following month. How much is collected from accounts receivable in February?
40% of February Sales and 60% of January sales.
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