Estimated sales for the next four months are as follows (in $ million): Month Cash sales...

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Estimated sales for the next four months are as follows (in $ million): Month Cash sales Credit sales 1 38.52 77.04 2 41.22 61.82 3 44.1 66.15 4 47.19 70.78 The firm collects 60% of credit sales in the month of the sale and the remainder in the following month. What are total cash collections in month 2 (in $ million)? What are total cash collections in month 3 (in $ million)? Estimated sales for the next four months are as follows (in $ million): Month Cash sales Credit sales 1 38.52 77.04 2 41.22 61.82 3 44.1 66.15 4 47.19 70.78 The firm collects 60% of credit sales in the month of the sale and the remainder in the following month. What are total cash collections in month 2 (in $ million)? What are total cash collections in month 3 (in $ million)?

Answer rating: 100% (QA)

cash collection in month 2 1 cash sales for month 2 credit sul... View the full answer