Preparation of collection forecast form salesuse the data

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Reference no: EM13356740

Preparation of collection forecast form sales.

Use the data below from a company's sales for January-June to get a forecast for the collection forecast, including cash sales, for June.

Month	Sales
January	$220,000
February	140,000
March	150,000
April	140,000
May	170,000
June	150,000

Of the sales above, 30 percent are for cash and 70 percent are for credit. Of the credit sales, 55 percent are collected one month later, 30 percent are collected two months later, and 15 percent are collected three months later. What is the collection forecast for June?

Reference no: EM13356740

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