Question
Sales receipts. National Beverage Company anticipates the following first-quarter sales for 2015: $1,800,000 (January), $1,600,000 (February), and $2,100,000 (March). It posted the following sales figures
Sales receipts.
National Beverage Company anticipates the following first-quarter sales for 2015:
$1,800,000 (January), $1,600,000 (February), and $2,100,000 (March). It posted the following sales figures for the last quarter of 2014:$1,900,000 (October), $2,050,000 (November), and $2,200,000
(December). The company sells 40% of its products on credit; 60% are cash sales. The company collects credit sales as follows:30% in the following month, 50% two months later, and 18% three months later,with
2% defaults. What are the anticipated cash inflows for the first quarter of 2015?
Of the $1,900,000 October sales,
The amount collected in October is $ ?
.
(Round to the nearest dollar.)
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