Reference no: EM131444707
Cash flow timing for accounts receivable. Zenotech Incorporated sells business software to a variety of companies. The payment for products and services varies across the Zenotech customers. In addition, as Zenotech increases its sales, it has more default customers due to the lack of screening for credit. Zenotech also uses discounts to provide customers an incentive to pay early on their accounts. Currently, it is offering 1.5%/30 or net 60 days on all accounts. Following are the projected sales per month for the coming year in thousands of dollars:
January: 1,010
February: 1,608
March:1,974
April: 2,005
May: 2,608
June: 3,501
July: 4,070
August: 5,280
September:3,547
October: 2,411
November: 1,604
December: 1,233
For monthly sales of less than $2,000,000, the following payments take place:
default 1.25%, take discount 48%, pay at 60 days 39%, pay 30 days late 7.5%, pay 60 days late 4.25%
For monthly sales of $2,000,000 to $4,999,999.99, the following payments take place:
default 2.5%, take discount 41%, pay at 60 days 42%, pay 30 days late 9%, pay 60 days late 5.5%
For monthly sales of $5,000,000 or more, the following payments take place:
default 4.0%, take discount 37%, pay at 60 days 41.5%, pay 30 days late 11%, pay 60 days late 6.5%
Assume that Zenotech records all sales on the last day of the month for this problem rather than equally throughout the month. If sales for the last half of the previous year are what are the monthly anticipated cash inflows from accounts receivable/sales for the coming year?
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