Question

1.      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       

a.  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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