ZuoTi.Pro
Question

A company has forecast sales in the first 3 months of the year as follows (figures in millions):...

A company has forecast sales in the first 3 months of the year as follows (figures in millions): January, $60; February, $80; March, $100. 60% of sales are usuallypaid for in the month that they take place and 40% in the following month. Receivables at the end of December were $24 million. What are the forecasted collections onaccounts receivable in March?
From: undefined
Source:ISBN: 0077475755 | Title: Principles of Corporate Finance | Publisher: McGraw-Hill Higher Education
business   finance   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Request Professional Answer

Request Answer!

We need at least 10 more requests to produce the answer.

0 / 10 have requested this problem solution

The more requests, the faster the answer.

Request! (Login Required)

All students who have requested the answer will be notified once they are available.
Know the answer?
Add Answer to:
A company has forecast sales in the first 3 months of the year as follows (figures in millions):...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Similar Homework Help Questions

  • Memorial Hermann has forecast net patient revenue in the first 3 months of the year as...

    Memorial Hermann has forecast net patient revenue in the first 3 months of the year as follows (figures in millions): January, $60; February, $80; March, $100. 60% of services are usually paid for in the month that they take place and 40% in the following month. Receivables at the end of December were $24 million. What are the forecasted collections on accounts receivable in March?

  • Methodist Hospital has forecast net patient revenue in the first 3 months of the year as...

    Methodist Hospital has forecast net patient revenue in the first 3 months of the year as follows (figures in millions): January, $200; February, $140; March, $100. 50% of services are usually paid for in the month that they take place, 30% in the following month, and the final 20% in the next month. Receivables at the end of December were $100 million. What are the forecasted collections on accounts receivable in March?

  • 2. For each of the months March through June, determine the 3-month forecast error rate, defined...

    2. For each of the months March through June, determine the 3-month forecast error rate, defined as 1 minus the absolute percentage error. For example, the forecast error rate for March's sales is found by dividing the absolute value of the forecast error for this month by the actual sales volume for the month. The forecast error for any month (e.g., March) is defined as the difference between the actual sales volume for the month and the sales volume for...

  • Here is a forecast of sales by National Bromide for the first 4 months of 2019...

    Here is a forecast of sales by National Bromide for the first 4 months of 2019 (figures in thousands of dollars): Month: 1 2 3 4 Cash sales 30 39 33 29 Sales on credit 175 195 165 145 On average, 60% of credit sales are paid for in the current month, 20% in the next month, and the remainder in the month after that. What are the expected cash collections in months 3 and 4? (Enter your answers in...

  • The Denver Corporation has forecast the following sales for the first seven months of the year:...

    The Denver Corporation has forecast the following sales for the first seven months of the year: January $ 34,000 February 36,000 March 38,000 April 44,000 May 34,000 June 40,000 July 42,000 Monthly material purchases are set equal to 35 percent of forecast sales for the next month. Of the total material costs, 45 percent are paid in the month of purchase and 55 percent in the following month. Labor costs will run $6,400 per month, and fixed overhead is $14,000...

  • Sales on account for the first two months of the current year are budgeted as follows....

    Sales on account for the first two months of the current year are budgeted as follows. January February $563,000 882,000 All sales are made on terms of 2/10, n/30 (2 percent discount if paid in 10 days, full amount by 30 days); collections on accounts receivable are typically made as follows. 60% 15 Collections within the month of sale: Within discount period After discount period Collections within the month following sale: Within discount period After discount period Returns, allowances, and...

  • Sales on account for the first two months of the current year are budgeted as follows....

    Sales on account for the first two months of the current year are budgeted as follows. January $ 303,000 February 650,000 All sales are made on terms of 2/10, n/30 (2 percent discount if paid in 10 days, full amount by 30 days); collections on accounts receivable are typically made as follows. Collections within the month of sale: Within discount period 60 % After discount period 15 Collections within the month following sale: Within discount period 15 After discount period...

  • Sales on account for the first two months of the current year are budgeted as follows....

    Sales on account for the first two months of the current year are budgeted as follows.    January $ 776,000 February 984,000    All sales are made on terms of 2/10, n/30 (2 percent discount if paid in 10 days, full amount by 30 days); collections on accounts receivable are typically made as follows.    Collections within the month of sale: Within discount period 60 % After discount period 15 Collections within the month following sale: Within discount period 15...

  • Sales on account for the first two months of the current year are budgeted as follows....

    Sales on account for the first two months of the current year are budgeted as follows.    January $ 749,000 February 872,000    All sales are made on terms of 2/10, n/30 (2 percent discount if paid in 10 days, full amount by 30 days); collections on accounts receivable are typically made as follows.    Collections within the month of sale: Within discount period 60 % After discount period 15 Collections within the month following sale: Within discount period 15...

  • Sales on account for the first two months of the current year are budgeted as follows....

    Sales on account for the first two months of the current year are budgeted as follows. January $290,000. February $ 347,000. All sales are made on terms of 2/10,n/30 (2 percent discount if paid in 10 days, full amount by 30 days); collects on accounts receivable are typically made as follows. Collections within the month of sale: Within discount period 60%. After discount period 15. After discount period 7. Returns, allowances, and uncollectable 3. Compute the estimated. cash collections on...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT