Here is a forecast of sales by National Bromide for the first 4 months of 2019 (figures in thousands of dollars): Month: 1. 4 Cash sales 18 27 21 17 Sales on credit 115 135 105 85 On average, 60% 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 the expected cash collections in months 3 and 4? (Enter your answers in whole dollars not in thousands of dollars.) Expected Cash Čollections Month 3 Month 4
Here is a forecast of sales by National Bromide for the first 4 months of 2019 (figures in thousands of dollars): Month: 1. 4 Cash sales 18 27 21 17 Sales on credit 115 135 105 85 On average, 60% 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 the expected cash collections in months 3 and 4? (Enter your answers in whole dollars not in thousands of dollars.) Expected Cash Čollections Month 3 Month 4
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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How to solve for the 3rd and 4th month.
Transcribed Image Text:Here is a forecast of sales by National Bromide for the first 4 months of 2019 (figures in thousands of dollars):
Month:
1.
4
Cash sales
18
27
21
17
Sales on credit
115
135
105
85
On average, 60% 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 the expected cash collections in months 3 and 4? (Enter your answers in whole dollars not in thousands of
dollars.)
Expected Cash
Čollections
Month 3
Month 4
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