Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Here is a forecast of sales by National Bromide for the first 4 months of 2012 (figures in thousands of dollars): Month: 1 2 3

Here is a forecast of sales by National Bromide for the first 4 months of 2012 (figures in thousands of dollars):

Month: 1 2 3 4

Cash sales 32 41 35 31

Sales on credit 270 290 260 240

On average, 50% of credit sales are paid for in the current month, 40% in the next month, and the remainder in the month after that. What are expected cash collections in months 3 and 4? (Enter your answers in whole dollars not in thousands of dollars.)

Expected Cash

Collections

Month 3 $_________

Month 4 $___________

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Global Strategy

Authors: Mike W. Peng

5th Edition

0357512367, 978-0357512364

Students also viewed these Finance questions