Question
Greg's tool supply forecasts the following total sales figures for the next three months. September $500000, October $400000, November $600000. Cash Sales average 10% of
Greg's tool supply forecasts the following total sales figures for the next three months. September $500000, October $400000, November $600000. Cash Sales average 10% of the sales and credit sales and credit sales represent 90% of total sales. Histrically credit sales are collected 60% in the month following sale and 37% percent pay two months following sales and 3% of the credit sales are uncollectible.
Greg does not provide customers a discount for early payment. Based on histrical collections and cash Versus Credit sales data. The total estimated cash received in November would be ?
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