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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:
Quarter in Coming Year | Following Year | |||||
First | Second | Third | Fourth | First Quarter | ||
Sales forecast | $372 | $360 | $336 | $384 | $384 | |
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 $336. What is the forecast for Paymores cash receipts in each quarter of the coming year? (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.)
QUARTER | COLLECTIONS |
1 | |
2 | |
3 | |
4 |
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