Help me understand this proble

timer Asked: Nov 17th, 2015

Question description

Help me understand this problem. Southward Corporation is a retailer that began operations in January. Projected sales and cost data for the Southward Corporation are as follows:  

            SALES / Cost of Goods Sold 

January: $ 96,000 / $48,000 

February: $100,000 / $50,000 

March: $120,000 /  $60,000 

April: $116,000 / $54,000 

May: $130,000 / $65,000

50% of sales are collected in the month of the sale. 40% of sales are collected in the month following the sale and 8% are collected in the second month following the sale; the remainder is bad debts. 

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