Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sales receipts. California Cement Company anticipates the following fourth-quarter sales for 2014: $1,800,000 (October), $1,600,000 (November), and $2,100,000 (December). It posted the following sales figures

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

Sales receipts. California Cement Company anticipates the following fourth-quarter sales for 2014: $1,800,000 (October), $1,600,000 (November), and $2,100,000 (December). It posted the following sales figures for the third quarter of 2014: $1,900,000 (July), $2,050,000 (August), and $2,200,000 (September). The company sells 90% of ts products on credit, and 10% are cash sales. The company collects c edit sales as follows: 609s in the follow ng month, 20% two months later, and 1996 three months later, with 1% defaults. What are the anticipated cash inflows for the last quarter of 2014? Given the July sales of $1,900,000, The amount collected in July is $D (Round to the nearest dollar.) The amount collected in August is S. (Round to the nearest dollar.) The amount collected in September is $(Round to the nearest dollar.) The amount collected in October is (Round to the nearest dollar.) The amount not collected is S (Round to the nearest dollar) Given the August sales of $2,050,000 The amount collected in August is$ The amount colected in September is S (Round to the nearest dollar.) The amount colected in October is S (Round to the nearest dollar.) Enter your answer in each of the answer boxes. 1 . (Round to the nearest dollar.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Quantitative Finance Its Development Mathematical Foundations And Current Scope

Authors: T. Wake Epps

1st Edition

0470431997, 9780470431993

More Books

Students also viewed these Finance questions