Question

Clopton Inc. forecasts cash sales of $18 million in January, $23 million in February and $25...

Clopton Inc. forecasts cash sales of $18 million in January, $23 million in February and $25 million in March. Credit sales in these three months are forecast at $80 million, $110 million and $145 million. On average 50% of credit sales are paid for in the current month, 30% in the next month, and the remainder in the following month. What is the expected cash inflow in March?

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Mitchell, Inc. needs to develop a cash budget for Q1 2020. Sales in January, February and...
Mitchell, Inc. needs to develop a cash budget for Q1 2020. Sales in January, February and March are expected to be $20,000, $22,500 and $24,650 respectively. 30% of all sales are paid cash. 50% of sales are paid within 1 month and 20% are paid within 2 months. The company spends $14,000 a month to operate the business. Create the cash budget for Q1 2020.
Here is a forecast of sales by XYZ Inc. for the first 4 months of 2018...
Here is a forecast of sales by XYZ Inc. for the first 4 months of 2018 (figures in thousands of dollars): Month 1 2 3 4 Cash sales 15 24 18 14 Sales on credit 100 120 90 70 On average, 50% of credit sales are paid for in the current month, 30% in the next month, and the remainder in the month after that. What are the expected cash collections in months 3 and 4?
Depotissimo " , has predicted the following sales for the first four months of 2015 January...
Depotissimo " , has predicted the following sales for the first four months of 2015 January $ 7,000 March $    15,000 February $    12,000 April $    18,000 Monthly purchases of raw materials accounts for 50 % of sales forecast for the next month. Of total raw material purchases , payments are 50% in cash in the same month and 50% on credit. Of credit purchases 70% is paid in the following month and 30% is paid in two months. Predicted...
Pet Supplies Inc., a pet wholesale supplier, was organized on January 1. Projected sales for each...
Pet Supplies Inc., a pet wholesale supplier, was organized on January 1. Projected sales for each of the first three months of operations are as follows: January $240,000 February 310,000 March 470,000 All sales are on account. 59% of sales are expected to be collected in the month of the sale, 37% in the month following the sale, and the remainder in the second month following the sale. Prepare a schedule indicating cash collections from sales for January, February, and...
The monthly sales for Yazici Batteries, Inc., were as follows: MONTH SALES January 20 February 21...
The monthly sales for Yazici Batteries, Inc., were as follows: MONTH SALES January 20 February 21 March 15 April 14 May 13 June 16 July 17 August 18 September 20 October 20 November 21 December 23 Plot the monthly sales data. Forecast January sales using each of the following: Naive method. A 3-month moving average. A 6-month weighted average using .1, .1, .1, .2, .2, and .3, with the heaviest weights applied to the most recent months. Exponential smoothing using...
Kaspar Industries expects credit sales for January, February, and March to be $204,200, $266,000, and $317,000,...
Kaspar Industries expects credit sales for January, February, and March to be $204,200, $266,000, and $317,000, respectively. It is expected that 75% of the sales will be collected in the month of sale, and 25% will be collected in the following month. Compute cash collections from customers for each month. Collections from Customers Credit Sales                   January                 February              March January                         $______                 $________           $______ February                        ______                 ________           ______ March                             ______                 ________           ______                                        $______                 $________...
Sweeney Corporation has found that 80​% of its sales in any given month are credit​ sales,...
Sweeney Corporation has found that 80​% of its sales in any given month are credit​ sales, while the remainder are cash sales. Of the credit​ sales, Sweeney Corporation has experienced the following collection​ pattern: 25% received in the month of the sale 50% received in the month after the sale 24% received two months after the sale 1% of the credit sales are never received November sales for last year were $90,000​, while December sales were $110,000. Projected sales for...
Depotissimo " , has predicted the following sales for the first four months of 2015 January...
Depotissimo " , has predicted the following sales for the first four months of 2015 January $ 6,000 March $    15,000 February $ 11,000 April $    17,000 Monthly purchases of raw materials accounts for 60 % of sales forecast for the next month. Of total raw material purchases , payments are 60% in cash in the same month and 40% on credit. Of credit purchases 70% is paid in the following month and 30% is paid in two months. Predicted...
Kaspar Industries expects credit sales for January, February, and March to be $208,000, $264,600, and $316,500,...
Kaspar Industries expects credit sales for January, February, and March to be $208,000, $264,600, and $316,500, respectively. It is expected that 75% of the sales will be collected in the month of sale, and 25% will be collected in the following month. Compute cash collections from customers for each month. Credit Sales January Febuary March January ________ _______ _________ Febuary _______ ________ _________ March _________ _________ __________ ______________________________________________________________ __________ ___________ ___________
Pet Supplies Inc., a pet wholesale supplier, was organized on January 1. Projected sales for each...
Pet Supplies Inc., a pet wholesale supplier, was organized on January 1. Projected sales for each of the first three months of operations are as follows: January $300,000 February 500,000 March 750,000 All sales are on account. Seventy-five percent of sales are expected to be collected in the month of the sale, 20% in the month following the sale, and the remainder in the second month following the sale. Prepare a schedule indicating cash collections from sales for January, February,...