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Estimated sales for the next four months are as follows (in $ million): Month 1 2 3 4 Cash sales 53.5 57.25 61.25 65.54 Credit
Estimated sales for the next four months are as follows (in $ million):
Month 1 2 3 4
Cash sales 53.5 57.25 61.25 65.54
Credit sales 107 85.87 91.88 98.31
The firm collects 50% of credit sales in the month of the sale and the remainder in the following month.
What are total cash collections in month 2 (in $ million)?
What are total cash collections in month 3 (in $ million)?
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