The forecasted sales pertain to BEST BOARDS, Inc.: Month Sales January 900,000 F
ID: 2485527 • Letter: T
Question
The forecasted sales pertain to BEST BOARDS, Inc.:
Month Sales January 900,000
February 1,000,000
March 600,000
April 400,000
Collection pattern:60 percent in month of sale;40 percent in month following the saleAccounts Receivable (December 31):$140,000
Finished Goods Inventory (December 31):160,000
The company has a selling price of $10 per unit and expects to maintain ending inventoriesequal to 20 percent of the next month's sales. Calculate the amount of cash that BESTBOARDS expects to collect in February?
Explanation / Answer
The forecasted sales pertain to BEST BOARDS, Inc.: Month Sales January 900,000 F
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