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Estimated sales for the next four months are as follows (in $ million): Month 1 2 3 4 Cash sales 55.64 59.53 63.7 68.16 Credit
Estimated sales for the next four months are as follows (in $ million):
Month | 1 | 2 | 3 | 4 |
Cash sales | 55.64 | 59.53 | 63.7 | 68.16 |
Credit sales | 111.28 | 89.3 | 95.55 | 102.24 |
The firm collects 30% of credit sales in the month of the sale and the remainder in the following month.
What are cash collections in month 2 (in $ million)?
What are cash collections in month 3 (in $ million)?
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