[See Steps] Markov Analysis A study of accounts receivable at the A W Department Store indicates that bills are either current, one month overdue, two months

Question: Markov Analysis

A study of accounts receivable at the A & W Department Store indicates that bills are either current, one month overdue, two months overdue, written off as bad debt, or paid in full. Of those that are current, 80% are paid that month, and the rest become one month overdue. Of the one month overdue bills, 90% are paid, and the rest become two months overdue. Those that are two months overdue will be either paid (85%) or listed as bad debts. If the sales each month average $150,000, determine how much the company expects to receive of this amount. How much will become bad debts?

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[See Steps] Markov Analysis A study of accounts receivable at the A W Department Store indicates that bills are either current, one month overdue, two months

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