Nelson Corporation's began operations on January 1, 2010. Forecasted sales for the first half of 2010 are listed below.

Seventy-five percent of Nelson's sales are on credit; the rest are for cash. The credit sales are paid 60% in the month of the sale 25% in the first month after sale, and 15% in the second month after the sale.
Required:
Determine Nelson's estimated cash receipts for January through March 2010.

Question

Nelson Corporation's began operations on January 1, 2010. Forecasted sales for the first half of 2010 are listed below.
  
Seventy-five percent of Nelson's sales are on credit; the rest are for cash. The credit sales are paid 60% in the month of the sale 25% in the first month after sale, and 15% in the second month after the sale. 
Required:
Determine Nelson's estimated cash receipts for January through March 2010.

Quizplus · Accepted Answer

The Answer of Nelson Corporation's began operations on January 1, 2010. Forecasted sales for the first half of 2010 are listed below.
  
Seventy-five percent of Nelson's sales are on credit; the rest are for cash. The credit sales are paid 60% in the month of the sale 25% in the first month after sale, and 15% in the second month after the sale. 
Required:
Determine Nelson's estimated cash receipts for January through March 2010.

Nelson Corporation's Began Operations on January 1, 2010