Atlas Builders deals strictly with five customers. The average amount each custo

Question

Atlas Builders deals strictly with five customers. The average amount each customer pays per month along with the collection delay associated with each payment is shown below. Given this information, what is the amount of the average daily receipts? Assume every month has 30 days. check amount collection delay customer a check amount $6,800 collection delay 3days customer b check amount 8,500 collection delay 1day customer c check amount 2,000 collection delay 2days customer d check amount 9,500 collection delay 3days customer e check amount 7,500 collection delay 2days

Explanation / Answer

Amount of the average daily receipts = [{($6,800 * 3) + ($8,500 * 1) + ($2,000 * 2) + ($9,500 * 3) + ($7,500 * 2)}/{3+1+2+3+2}] = $6945.45

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