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Here is a forecast of sales by National Bromide for the first 4 months of 2017 (figures in thousands of dollars): Month: 1 2 3
Here is a forecast of sales by National Bromide for the first 4 months of 2017 (figures in thousands of dollars):
Month: | 1 | 2 | 3 | 4 | ||||||||
Cash sales | 20 | 29 | 23 | 19 | ||||||||
Credit sales | 125 | 145 | 115 | 95 | ||||||||
On average, 60% of credit sales are paid for in the current month, 20% in the next month, and the remainder in the month after that. What are the expected cash collections in months 3 and 4?
Expected Cash Collections
Month 3 ?
Month 4 ?
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