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A company's history indicates that 30% of its sales are for cash and the rest are on credit. Collections on credit sales are 30% in
A company's history indicates that 30% of its sales are for cash and the rest are on credit. Collections on credit sales are 30% in the month of the sale, 40% in the next month, 25% the following month, and 5% is uncollectible. Projected sales for December, January, and February are $71,000, $96,000 and $106,000, respectively. The February expected cash receipts from current and prior credit sales is: $56,265 $61,565 $66,865 $19,656 $80,800
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