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Nelson's Management Consultants has found that only 10% of its invoiced amounts are paid in the same month that the work is completed. Sixty percent
Nelson's Management Consultants has found that only 10% of its invoiced amounts are paid in the same month that the work is completed. Sixty percent are paid in the month after the work is completed and 30% are paid in the second month after the work is completed. During December 2010, Nelson's invoiced $200,000 to clients. Projected revenues for the first six months of 2010 are given below. What are the expected cash receipts for March 2010?
Month | Revenue |
January | $180,000 |
February | 215,000 |
March | 220,000 |
April | 218,000 |
May | 240,000 |
June | 255,000 |
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