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Forecasting Collections. Here is a forecast of sales by National Bromide for the first 4 months of 2013 (figures in thousands of dollars): Month 1
Forecasting Collections. Here is a forecast of sales by National Bromide for the first 4 months of 2013 (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 the expected cash collections in months 3 and 4? (Please show work)
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