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Only question 18-7 and 18-8. This problem comes from the book: financial management 7th edition by Timothy J. Gallagher 18-6. Marion Crane, a fnancial analyst

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Only question 18-7 and 18-8. This problem comes from the book: financial management 7th edition by Timothy J. Gallagher
18-6. Marion Crane, a fnancial analyst of Lifelong Appliances Company, is trying to develop a cash budget for each month of 2016. The sales are expected to occur as follows Month Sales (in thousand dollars) Nov 2015 (reference) $131 Dec 2015 (reference) $129 Jan 2016 $133 Feb 2016 Mar 2016. $139 $143 Apr 2016 $191 May 2016 $226 Jun 2016 $242 Jul 2016 $224 Aug 2016 $184 Sep 2016 $173 Oct 2016 $166 Nov 2016 $143 Dec 2016 $136 Jan 2017 (reference) $139 Feb 2017 (reference Assume all of Lifelong's sales are on eredit so no cash isreceived immediately when a sale is made. It is expected that 20 percent of Lifelong's customers will pay off their accounts in the month of sale, 70 percent will pay off their accounts in the month following the sale, and the remaining 10 percent of the customers will pay omtheir accounts in the second month following the sale. Given this payment pattem, help Marion in calculating Lifelong's actual monthly cash collections throughout 20 is 7. Use the same sales data given in problem 18-6. To improve the cash co Marion has decided to underake stricter credit terms. With this change she expects that percent of Lifelong's om in the menth 5 percent will pay accounts in the month following month following percent of the customers will pay second Given payment what would be Lifelong's actual collections throughout

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