Question
National Beverage Company anticipates the following first-quarter sales for 2015: $1,874,000(January), $1,592,000(February), and $2,142,000 (March). It posted the following sales figures for the last quarter
National Beverage Company anticipates the following first-quarter sales for 2015: $1,874,000(January), $1,592,000(February), and $2,142,000 (March). It posted the following sales figures for the last quarter of 2014: $1,928,000(October), $2,052,000(November), and $2,192,000(December). The company sells 45% of its products on credit; 55% are cash sales. The company collects credit sales as follows: 31% in the following month, 51% two months later, and 17% three months later, with 1% defaults. What are the anticipated cash inflows for the first quarter of 2015?
Of the $1,928,000 October sales,The amount collected in October is
November:
December
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