Del Carpio, Inc

Essay

Del Carpio, Inc., sells two products, Widgets and Gadgets. The sales forecast in units for the first quarter of the coming year is:
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 Widgets and Gadgets, respectively.
Determine the company's cash receipts for March from its current and past sales.