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Paymore Products places orders for goods equal to 75% of its sales forecast in the next quarter. The sales forecasts for the next five quarters
Paymore Products places orders for goods equal to 75% of its sales forecast in the next quarter. The sales forecasts for the next five quarters are as follows: Following Year First Quarter $388 Quarter in Coming Year First $376 Second $364 Third $340 Fourth $388 Sales forecast What is the forecast for Paymore's cash receipts in each quarter of the coming year? On average, one-third of sales are collected in the quarter that they are sold, and two-thirds are collected in the following quarter. Assume that sales in the last quarter of the previous year were $340. (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Quarter Collections 2 3 4
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