Diego, Inc Cash Sales Are 30% of Each Product's Monthly Sales

Essay

Diego, Inc., sells two products, Baubles and Charms. The sales forecast in units for the first quarter of the coming year is:
$$\begin{array} { l | l | l } & { \text { Baubles } } & \text { Charms } \\\hline \text { January } \ldots . . & 20,000 & 36,000 \\\hline \text { February } \ldots & 28,000 & 60,000 \\\hline \text { March ..... } & 36,000 & 64,000\end{array}$$ Cash sales are 30% of each product's monthly sales. The remaining sales are credit sales which are collected as follows: 70% in the month of sale, 20% the next month, and 10% in the following month. Unit sale prices are $30 and $20 for Baubles and Charms, respectively.
Determine the company's cash receipts for March from its current and past sales.