- cash secured credit card
- sale force definition
- direct debit collections
Hey guys, I'm really having trouble solving the first part of this problem. I just don't understand why you are going backward on the months as far as times'ing the percentages by the prior months, 70 x octobers, 15 x September, 10 x August and so on. If you guys could please explain this to me I would really appreciate it!!!!
Coyote Loco, In., a manufacturer of salsa, has the following historical collection pattern for its cred sales.
70% collected in the month of sale
15% collected in the first month after sale
10% collected in the second month after sale
4% collected in the third month after sale
1% uncollected
June - $122,500
July - 150,000
August - 175,000
September - 200,000
October - 225,000
November - 250,000
December - 212,500
Required:
1. Computer the estimated total cash collections during October from credit sales.
THANKS IN ADVANCE!!!!
Coyote Loco, In., a manufacturer of salsa, has the following historical collection pattern for its cred sales.
70% collected in the month of sale
15% collected in the first month after sale
10% collected in the second month after sale
4% collected in the third month after sale
1% uncollected
June - $122,500
July - 150,000
August - 175,000
September - 200,000
October - 225,000
November - 250,000
December - 212,500
Required:
1. Computer the estimated total cash collections during October from credit sales.
THANKS IN ADVANCE!!!!
Managerial Accounting! PLEASE HELP!! Cash Collections Problem!?
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