Question

National Beverage Company anticipates the following​ first-quarter sales for​ 2015:  ​$1,808,000 ​(January), $1,669,000 ​(February), and ​$2,157,000...

National Beverage Company anticipates the following​ first-quarter sales for​ 2015:  ​$1,808,000 ​(January), $1,669,000 ​(February), and ​$2,157,000 ​(March). It posted the following sales figures for the last quarter of​ 2014:   $1,843,000 ​(October), ​$ 2,033,000 ​(November), and ​$ 2,107,000 ​(December). The company sells 38% of its products on​ credit; 62% are cash sales. The company collects credit sales as​ follows:   29% in the following​ month, 50% two months​ later, and 18% three months​ later, with 3% defaults. What are the anticipated cash inflows for the first quarter of​ 2015?

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
Topez Service anticipates the following sales revenue over a​ five-month period: November December January February March...
Topez Service anticipates the following sales revenue over a​ five-month period: November December January February March Sales Revenue $16,200 $10,800 $15,400 $12,200 $14,800 The​ company's sales are 40% cash and 60% credit. Its collection history indicates that credit sales are collected as​ follows: 25% in the month of the sale 50% in the month after the sale 20% two months after the sale 5% are never collected How much cash will be collected in​ January? In​ February? In​ March? 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...
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...
London Manufacturing Company expects the following sales in January, February, and March: Cash Sales Credit Sales...
London Manufacturing Company expects the following sales in January, February, and March: Cash Sales Credit Sales January $60,000 $270,000 February $50,000 $240,000 March $75,000 $355,000 The controller has determined that the company collects credit sales as follows: 60% in the month of sale, 30% in the first month after sale, 5% in the second month after sale, and 5% is expected to be uncollectible. How much cash will be collected from customers in March? $376,500 $410,000 $291,500 $373,500 Click if...
XYZ Company sells a product for $10. Budgeted sales for the first quarter of the current...
XYZ Company sells a product for $10. Budgeted sales for the first quarter of the current year are as follows: Budgeted Sales January    $160,000 February   $100,000 March   $180,000 The company collects 70 percent in the month of sale and 25 percent in the following month. Five percent of all sales are uncollectible and written off. What would be XYZ Company’s budgeted cash receipts for March?
The Uli Antique Mall budgeted credit sales in the first quarter of 2018 to be as...
The Uli Antique Mall budgeted credit sales in the first quarter of 2018 to be as follows: January $199,000 February 211,000 March 226,000 Credit sales in December 2017 are expected to be $274,000. The company expects to collect 81 percent of a month’s sales in the month of sale and 19 percent in the following month. Estimate cash receipts for each month of the first quarter of 2018. Collection of credit sales January February March Collection of December sales $...
The following is the sales budget for Profit, Inc., for the first quarter of 2018: January...
The following is the sales budget for Profit, Inc., for the first quarter of 2018: January February March   Sales budget $ 214,000 $ 234,000 $ 257,000 Credit sales are collected as follows: 60 percent in the month of the sale 25 percent in the month after the sale 15 percent in the second month after the sale The accounts receivable balance at the end of the previous quarter was $98,000 ($68,000 of which was uncollected December sales). a. Calculate the...
The following is the sales budget for Coore, Inc., for the first quarter of 2019: January...
The following is the sales budget for Coore, Inc., for the first quarter of 2019: January February March   Sales budget $142,000 $159,000 $174,000 Credit sales are collected as follows: 70 percent in the month of the sale 25 percent in the month after the sale 5 percent in the second month after the sale The accounts receivable balance at the end of the previous quarter was $70,150 ($61,200 of which was uncollected December sales). a. Compute the sales for November....
​Camellia, a merchandising​ company, has provided the following extracts from their budget for the first quarter...
​Camellia, a merchandising​ company, has provided the following extracts from their budget for the first quarter of the forthcoming​ year: Jan Feb March Sales ​(2020​% ​cash) $ 400 comma 000.00$400,000.00 $ 600 comma 000.00$600,000.00 $ 900 comma 000.00$900,000.00 The company collects 6060​% of credit sales in the same month and the balance in the next month. Calculate the collections from the customers for the month of February. A. $ 536 comma 000.00$536,000.00 B. $ 408 comma 000.00$408,000.00 C. $ 416...
14. A company estimates its sales at 180,000 units in the first quarter and that sales...
14. A company estimates its sales at 180,000 units in the first quarter and that sales will increase by 18,000 units each quarter over the year. Each unit sells for $50. 40% of the sales are for cash. 70% of the credit customers pay within the quarter. The remaining 30% is received in the quarter following the sale. Cash collections for the third quarter are budgeted at a. $6,102,000. b. $8,856,000. c. $10,638,000. d. $12,312,000.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT