Forecasting Collections. Here is a forecast of sales by National Bromide for the first 4 months of 2010 (figures in thousands of dollars):
|
Month
|
1
|
2
|
3
|
4
|
|
Cash sales
|
15
|
24
|
18
|
14
|
|
Sales on credit
|
100
|
120
|
90
|
70
|
On average, 50 percent of credit sales arc paid for in the current month, 30 percent in the next a month, and the remainder in the month after that. What are expected cash collections in months 3 and 4?