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    oneofakind11's Avatar
    oneofakind11 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Sep 13, 2009, 04:51 PM
    Schedule of cash receipts
    Forecast of credit sales for the fourth quarter of the year as:


    The forcasted credit sales for the fourth quarter are,


    September (actual) 80,000 October 70,000 November 65,000 December 70,000



    If 30 percent of sales are collected in the month of sale, 60 percent in the following month, and 10 percent are never collected what is the total cash receipts for the fourth quarter (october through december) I don't understand how to get the totals

    Total cash receipts

    October
    $


    November
    $


    December
    $
    ArcSine's Avatar
    ArcSine Posts: 969, Reputation: 106
    Senior Member
    		  
    #2

    Sep 14, 2009, 03:55 AM
    The cash receipts for any month are 30% of that month's credit sales, plus 60% of the previous month's credit sales.
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