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What is the total amount of sales collection in August

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Question - The table below provides a firm's projected sales for the year 2021. About 35% of a month's sales is collected in the same month whereas the remainder is collected in the next month. Purchases are 80% of sales and are made a month before the sales month. The firm's average payment period (APP) is 27 days. Assume there are 30 days in a month.

Sales (RM) in July, 2021 - RM 52,500

Sales (RM) in August, 2021 - RM 54,000

Sales (RM) in September, 2021 - RM 58,500

Required -

a) What is the total amount of sales collection in August 2021?

b) What is the total amount of purchase disbursement in August 2021?

Reference no: EM132984747

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