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Noterman Company has credit sales of $600,000 in January. Past experience suggests that 40% is collected in the month of sale, 50% in the month following the sale, and 10% in the second month following the sale. Compute the cash collections from January sales in January, February, and March.

Respuesta :

Answer:

Cash collected in January = $240000

Cash collected in February = $30000

Cash collected in march = $10000

Explanation:

We have given that Noteman company has credit sales of January = $60000

It is given that 40% is collected in the month of sale

So cash collected in January [tex]=\frac{600000\times 40}{100}=$240000[/tex]

Cash collected in February [tex]=\frac{600000\times 50}{100}=$30000[/tex]

Cash collected in march = [tex]=\frac{600000\times 10}{100}=$10000[/tex]

 

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