Question
Here is a forecast of sales by National Bromide for the first 4 months of 2019 (figures in thousands of dollars): Month 1 2 3
Here is a forecast of sales by National Bromide for the first 4 months of 2019 (figures in thousands of dollars):
Month
1
2
3
4
Cash sales
20
29
23
19
Sales on credit
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?
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav
13th Edition
8120335643, 136126634, 978-0136126638
