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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 25% 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 25% in the month of the sale, 55% in the next month, 15% the following month, and 5% is uncollectible. Projected sales for December, January, and February are $74,000, $99,000 and $109,000, respectively. The February expected cash receipts from all current and prior credit sales is:
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