finanace

Question

Here is a forecast of sales by National Bromide for the first 4 months of 2017 (figures in thousands of dollars):

 

Month: 1 2  3  4
Cash sales   22     31     25     21  
Credit sales   135     155     125     105  

 

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.)

(The months arent lined up correctly, they should be on top of each column)

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