Homework Answers
| $6,159,500 | |||
| Working | |||
| Quarter 1 | Quarter 2 | Quarter 3 | |
| Units | 230,000 | 239,000 | 248,000 |
| Sale Price | $25 | $25 | $25 |
| Sales | $5,750,000 | $5,975,000 | $6,200,000 |
| Cash Sales, 40% | $2,300,000 | $2,390,000 | $2,480,000 |
| Credit Sales, 60% | $3,450,000 | $3,585,000 | $3,720,000 |
| Cash collection | |||
| Cash sales | $2,480,000 | ||
| Credit sales received in the quarter - (70% of credit sales) | $2,604,000 | ||
| Credit sales received in quarter - (30% of credit sales of the previous quarter) | $1,075,500 | ||
| $6,159,500 |
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