FIN 5130 – ABC collects 64 percent of its sales in the month of sale | Online Assignment Help: +1 (857)-330-4622

FIN 5130 – ABC collects 64 percent of its sales in the month of sale

FIN 5130 – ABC collects 64 percent of its sales in the month of sale ABC Company has the following projected sales:MonthSales $April 34,972May 38,440June 37,490July 17,614ABC collects 64 percent of its sales in the month of sale, 20 percent in the month following the month of sale, and another 1 percent in the second month following the month of sale. The remainder is bad debts and is not collected. What is the amount of the July collections?Enter your answer rounded off to two decimal points.