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A firm has actual sales in November of $1,000 and projected sales in December and January of $3,000 and $4,000, respectively. The firm makes 10 percent of its sales for cash, collects 40 percent of its sales one month following the sale, and collects the balance two months following the sale. The firms total cash receipts in January is 4 $3,300 $2,100 $2,000 $400
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Cash receipts from cash sale in January month ($4,000 * 10%) $400 Cash collections fom Sale of November month sale 50% of sale amount collected in 2 months following month of sale ($1,000 * 50%) $500 Cash colections fom Sale of Pecember month sale 40% of sale amount collected in 1 month following month of sale ($3,000*40%) Total cash collections $1.200 Ans: Cash receipts in January month-$2,100

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