Here is a forecast of sales by National Bromide for the first 4 months of 2022 (figures in thousands of dollars): Month: Cash sales. Sales on credit 1 23 140 Month 3 Month 4 $ $ 2 32 160 On average, 50% of credit sales are paid for in the current month, 30% in the next month, and the remainder in the month after that. What are the expected cash collections in months 3 and 4? Note: Enter your answers in whole dollars not in thousands of dollars. 3 26 130 > Answer is complete but not entirely correct. Expected Cash Collections 191,000 X 172,000 X 4 22 110

Here is a forecast of sales by National Bromide for the first 4 months of 2022 (figures in thousands of dollars): Month: Cash sales. Sales on credit 1 23 140 Month 3 Month 4 $ $ 2 32 160 On average, 50% of credit sales are paid for in the current month, 30% in the next month, and the remainder in the month after that. What are the expected cash collections in months 3 and 4? Note: Enter your answers in whole dollars not in thousands of dollars. 3 26 130 > Answer is complete but not entirely correct. Expected Cash Collections 191,000 X 172,000 X 4 22 110

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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For the Bayer Company, the average age of accounts receivable is 60 days, the average age of accounts payable is 45 days, and the average age of inventory is 72 days. Assuming a 365-day year, what is the length of of the firm's cash conversion cycle?
2
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Provide correct solution
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