13. Forecasting Collections. Here is a forecast of sales by National Bromide for the first 4 months...
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13. Forecasting Collections. Here is a forecast of sales by National Bromide for the first 4 months of 2010 (figures in thousands of dollars): Month: 1 2 3 4 Cash sales 15 24 18 14 Sales on credit 100 120 90 70 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? (LO4)
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