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problem: Use the information below from a firm's sales for January-June to get a forecast for the collection forecast, including cash sales, for June.

Month 

Sales

January

$220,000

February

140,000

March

150,000

April

140,000

May

170,000

June

150,000

Of the sales above, 30% are for cash & 70% are for credit. Of the credit sales, 55% are collected one month later, 30% are collected two months later, & 15% are collected three months later. Determine the collection forecast for June?

Cost Accounting, Accounting

  • Category:- Cost Accounting
  • Reference No.:- M923467

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