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What is the amount of conference receipts collected

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Reference no: EM133090090

Question - The Pickwick Hotel, which hosts a large number of conferences, receives 5% of revenue as a deposit in the month prior to a conference, 40% of revenue is received in the same month that a conference is held and 55% of revenue is collected in the month following a conference.

Conference revenue was $60,000, $70,000 and $80,000 in January, February and March, respectively. What is the amount of conference receipts collected in February?

Reference no: EM133090090

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