Question
Sales receipts. National Beverage Company anticipates the following first-quarter sales for 2015: $1,884,000 (January), $1,517,000 (February), and $2,059,000 (March). It posted the following sales figures
Sales receipts. National Beverage Company anticipates the following first-quarter sales for 2015: $1,884,000 (January), $1,517,000 (February), and $2,059,000 (March). It posted the following sales figures for the last quarter of 2014: $1,865,000 (October), $1,925,000 (November), and $2,214,000 (December). The company sells 35 % of its products on credit; 65 % are cash sales. The company collects credit sales as follows: 31 % in the following month, 51 % two months later, and 17 % three months later, with 1 % defaults. What are the anticipated cash inflows for the first quarter of 2015?
Of the $1,865,000 October sales,
The amount collected in October is $ __ (Round to the nearest dollar.)
The amount collected in November is $__ (Round to the nearest dollar.)
The amount collected in December is $ __ (Round to the nearest dollar.)
The amount collected in January is $__ (Round to the nearest dollar.)
The amount not collected is $__ (Round to the nearest dollar.)
Of the $1,925,000 November sales,
The amount collected in November is $__ (Round to the nearest dollar.)
The amount collected in December is $__ (Round to the nearest dollar.)
The amount collected in January is $__ (Round to the nearest dollar.)
The amount collected in February is $__ (Round to the nearest dollar.)
The amount not collected is $__ (Round to the nearest dollar.)
Of the $2,214,000 December sales,
The amount collected in December is $__ (Round to the nearest dollar.)
The amount collected in January is $__ (Round to the nearest dollar.)
The amount collected in February is $__ (Round to the nearest dollar.)
The amount collected in March is $__(Round to the nearest dollar.)
The amount not collected is $__ (Round to the nearest dollar.)
Of the $1,884,000 January sales,
The amount collected in January is $__ (Round to the nearest dollar.)
The amount collected in February is $__ (Round to the nearest dollar.)
The amount collected in March is $__ (Round to the nearest dollar.)
The amount collected in April is $__ (Round to the nearest dollar.)
The amount not collected is $__ (Round to the nearest dollar.)
Of the $1,517,000 February sales,
The amount collected in February is $__ (Round to the nearest dollar.)
The amount collected in March is $__ (Round to the nearest dollar.)
The amount collected in April is $__ (Round to the nearest dollar.)
The amount collected in May is $__ (Round to the nearest dollar.)
The amount not collected is $__ (Round to the nearest dollar.)
Of the $2,059,000 March sales,
The amount collected in March is $__ (Round to the nearest dollar.)
The amount collected in April is $__ (Round to the nearest dollar.)
The amount collected in May is $__ (Round to the nearest dollar.)
The amount collected in June is $__ (Round to the nearest dollar.)
The amount not collected is $__(Round to the nearest dollar.)
Therefore, what are the anticipated cash inflows for the first quarter of 2015?
The receipts for January are $__ (Round to the nearest dollar.)
The receipts for February are $__ (Round to the nearest dollar.)
The receipts for March are $__ (Round to the nearest dollar.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started