Skyline Corp began operations on Jan 1, 2010. Skyline's budgeted Jan 10, Feb 10 and Mar 10 sales are 1,000,000, 1,200,000 and 2,000,000. The company estimates that 75% of its sales will be made on credit. The company also estimates that 50% of skylines customers will pay their outstanding balance in the month of the sale, 30% in the 1st month subsequent to the sale, and 20% in the second month subsequent to the sale.
- How much cash should Skyline expect to receive from its customers in Jan 10?
- How much cash should Skyline expect to receive from its cusotmers in Feb 10?
- How much cash should Skyline expect to receive from its cusotmers in March 10?