Here is a forecast of sales by National Bromide for the first 4 months of 2015 (figures
Question:
Here is a forecast of sales by National Bromide for the first 4 months of 2015 (figures in thousands of dollars):
On average, 50% of credit sales are paid for in the current month, 30% in the next month, and the remainder in the month after that. What are expected cash collections in months 3 and 4?
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Month: 2 3 Cash sales 14 24 15 18 Sales on credit 120 100 90 70
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Month 3 18000 5 x 90000 ...View the full answer
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Related Book For
Fundamentals of Corporate Finance
ISBN: 978-1259024962
6th Canadian edition
Authors: Richard Brealey, Stewart Myers, Alan Marcus, Devashis Mitra, Elizabeth Maynes, William Lim
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