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Peter sells goods to customers on credit. It is forecast that credit sales for July will be RM 36,000 and that sales will increase by
Peter sells goods to customers on credit. It is forecast that credit sales for July will be RM 36,000 and that sales will increase by RM2,000 per month for the next six months. Based on past experience Peter expects 50% of customers to pay in the month after the sale, 25% of customers to pay months after the sale and the remainder to pay 3 months after the sale PJ has a trade receivable balance outstanding at the beginning of July of RM 65,000.
- Calculate the cash that PJ will receive from credit customers during the six months period to the end of December.
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