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
Chapter7: Budgeting
Section: Chapter Questions
Problem 14EA: Halifax Shoes has 30% of its sales in cash and the remainder on credit. Of the credit sales, 65% is...
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