Problem 19-14 Forecasting Collections (LO3) Here is a forecast of sales by National Bromide for...
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Problem 19-14 Forecasting Collections (LO3)
Here is a forecast of sales by National Bromide for the first 4 months of 2019 (figures in thousands of dollars):
| Month: | 1 | 2 | 3 | 4 | ||||||||
| Cash sales | 16 | 25 | 19 | 15 | ||||||||
| Sales on credit | 105 | 125 | 95 | 75 | ||||||||
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.)
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