Question 2 Sales receipts. California Cement Company anticipates the following fourth-quarter sales for 2014: $1,878,000 (October), $1,558,000 (November), and $2,009,000(December). It posted the following sales figures for the third quarter of 2014: $1,939,000 (July), $1,985,000 (August), and $2,113,000 (September). The companysells 37% of its products on credit, and 63% are cash sales. The company collects credit sales as follows: 32% in the following month, 50% two months later, and17% three months later, with 1% defaults. What are the anticipated cash inflows for the last quarter of 2014?Given the November sales of $1,558,000,The amount collected in November is s(Round to the nearest dollar.)The amount collected in December is $(Round to the nearest dollar.)The amount collected in January is $. (Round to the nearest dollar.)The amount collected in February is $. (Round to the nearest dollar.)The amount not collected is $ . (Round to the nearest dollar.)Given the December sales of $2,009,000,The amount collected in December is $(Round to the nearest dollar.)The amount collected in January is $. (Round to the nearest dollar.)The amount collected in February is $. (Round to the nearest dollar.)The amount collected in March is $. (Round to the nearest dollar.)The amount not collected is $ . (Round to the nearest dollar.)

Cash collection will be calculated by multiplying the %age of collection in the respective month

Sales receipts. California Cement Company anticipates the following fourth-quarter sales for 2014: $1,878,000 (October), $1,558,000 (November), and $2,009,000 (December). It posted the following sales figures for the third quarter of 2014: $1,939,000 (July), $1,985,000 (August), and $2,113,000 (September). The company sells 37% of its products on credit, and 63% are cash sales. The company collects credit sales as follows: 32% in the following month, 50% two months later, and 17% three months later, with 1% defaults. What are the anticipated cash inflows for the last quarter of 2014? Given the November sales of $1,558,000, The amount collected in November is $: (Round to the nearest dollar.) The amount collected in December is S (Round to the nearest dollar.) The amount collected in January is $| (Round to the nearest dollar.) The amount collected in February is $]. (Round to the nearest dollar.) The amount not collected is S (Round to the nearest dollar.) Given the December sales of $2,009,000, The amount collected in December is $. (Round to the nearest dollar.) The amount collected in January is $[ (Round to the nearest dollar.) The amount collected in February is S. (Round to the nearest dollar.) The amount collected in March is $]. (Round to the nearest dollar.) The amount not collected is S ]. (Round to the nearest dollar.)

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

ChapterMB: Model-building Problems

Section: Chapter Questions

Problem 22M