How much money does firm expect to collect in the month

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Reference no: EM131307918

D&F Inc., expects credit sales of $980, $1,460, $1,730 and $950 for the months of April through July, respectively. The firm collects 25 percent of sales in the month of sale, 65 percent of sales in the month following the month of sale, and 8 percent in the second month following the month of sale. The remaining sales are never collected. How much money does the firm expect to collect in the month of July?

$1,374.20

$1,645.50

$1,571.10

$1,475.50

$1,478.80

Reference no: EM131307918

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