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Richies Tacos is a popular Mexican restaurant. The following is Richies Tacos sales forecast by...

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Accounting

Richies Tacos is a popular Mexican restaurant. The following is Richies Tacos sales forecast by quarter for the upcoming year image

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Richie's Tacos is a popular Mexican restaurant. The following is Richie's Tacos sales forecast by quarter for the upcoming year. In addition, sales in Q4 of 2019 totalled $88,000. According to the company's sales records, 92% of sales are made in cash and the remaining 8% are invoiced to corporate clients (credit sales). Assume the following historical trends were noted by management regarding credit sales: - 80% of credit customers pay during the quarter in which the sale takes place. - 20% of credit customers pay in the quarter immediately following the quarter of sale. a) Calculate the forecasted sales for each quarter separated into cash and credit sales

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