Question: Consider a company that has sales in May June and
Consider a company that has sales in May, June, and July of $11 million, $10 million, and $12 million, respectively. The firm is paid by 25 percent of its customers in the month of the sale, 50 percent in the following month, and 23 percent in the next month (2 percent are bad sales and never pay). What is the cash collected in July?
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