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Problem 20-13 Forecasting Collections (L04) Here is a forecast of sales by National Bromide for the first 4 months of 2018 (figures in thousands of
Problem 20-13 Forecasting Collections (L04) Here is a forecast of sales by National Bromide for the first 4 months of 2018 (figures in thousands of dollars). Month: Cash sales Sales on credit 1 10 70 2 20 80 3 14 90 4 10 60 On average, 50% of credit sales are paid for in the current month, 30% in the next month, and the remainder in the month after that What are expected cash collections in months 3 and 4? (Round your answers to the nearest whole dollar. Enter your answers in dollars, not in thousands dollars.) $ Expected cash collections in month 3 $ Expected cash collections in month 4
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