Asked by L
Here is a forecast of sales by National Bromide for the first 4 months of 2012 (figures in thousands of dollars):
Month: 1 2 3 4
Cash sales 19 28 22 18
Sales-on-crdt 140 160 130 110
On average, 40% of credit sales are paid for in the current month, 20% in the next month, and the remainder in the month after that. What are expected cash collections in months 3 and 4?
Month: 1 2 3 4
Cash sales 19 28 22 18
Sales-on-crdt 140 160 130 110
On average, 40% of credit sales are paid for in the current month, 20% in the next month, and the remainder in the month after that. What are expected cash collections in months 3 and 4?
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