Maelstrom limited sells only on credit. They started business in June 2021. The sales are collected as follows: 46% in the current month, 28% in the following month, and 10% two months following the sale Sales for the first six months of operation are expected to be: June 21,101; July 22,162; August 20,486; September 27,766; October 26,537 and November 29,411. Predict the total sales expected to be collected in July. Calculate to two decimal places.
Maelstrom limited sells only on credit. They started business in June 2021. The sales are collected as follows: 46% in the current month, 28% in the following month, and 10% two months following the sale Sales for the first six months of operation are expected to be: June 21,101; July 22,162; August 20,486; September 27,766; October 26,537 and November 29,411. Predict the total sales expected to be collected in July. Calculate to two decimal places.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Maelstrom limited sells only on credit. They started business in June 2021.
The sales are collected as follows:
46% in the current month,
28% in the following month, and
10% two months following the sale
Sales for the first six months of operation are expected to be: June 21,101; July 22,162; August 20,486; September 27,766; October 26,537 and November 29,411.
Predict the total sales expected to be collected in July. Calculate to two decimal places.
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