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Calculate the estimated cash collections for march and april

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Question - Dominic's, Inc. had actual sales for January and February and forecasted sales for March, April, May and June as follows: 

Actual:

January               $178,000

February             $206,000

Forecast:

March                 $214,000

April                   $193,900

May                    $188,000

June                   $203,000

Based on company experience, it is estimated that 22 percent of a month's sales are collected in the month of sale, 49 percent of the prior month's sales, and 28 percent of the second prior month's sales. Calculate the estimated cash collections for March, April, and May.

Reference no: EM131787679

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