Lees Appliances forecasts the following sales figures for the next four months. April May June July $250,000
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Question:
Lee’s Appliances forecasts the following sales figures for the next four months.
April | May | June | July |
$250,000 | $150,000 | $225,000 | $150,000 |
Cash sales average 10% of total sales and credit sales are collected 50% in the month of sale and 50% in the month following sale. What are the estimated cash collections in June?
a.
$191,250
b.
$207,500
c.
$195,000
d.
$150,000
e.
some other figure not listed here
Expert Answer:
Related Book For 
Foundations of Financial Management
ISBN: 978-1259024979
10th Canadian edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
Posted Date:
