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What are the forecasted cash collections for month of May

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Reference no: EM132621300

Question - A company has projected the following sales for February - July of 2014:

February $250,000

March $270,000

April $240,000

May $220,000

June $230,000

July $260,000

45% of all sales are paid for with cash. The remainder is on credit.

The pattern for credit receivables collections are:

Month of Sale 30%

Month After Sale 45%

Second Month After Sale 25%

Required - What are the forecasted cash collections for the month of May?

Reference no: EM132621300

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