After discontinuing all advertising for a tool kit in 2007, the manufacturer noted that sales began...

After discontinuing all advertising for a tool kit in 2007, the manufacturer noted that sales began to drop according to the model

S =

600,000/1+0.3e^kt
t = 7 where S represents the number of units sold and

represents 2007. In 2009, 400,000 units were sold.

(a) Complete the model by solving for k. (Round your answer to three decimal places.)
k =

(b) Estimate sales in 2016. (Round your answer to the nearest whole number.)
S = units sold

Expert Solution

milcah answered 2 years ago

Wilcox Mills is a manufacturer that makes all sales on 30-day credit terms. Annual sales are...

Wilcox Mills is a manufacturer that makes all sales on 30-day credit terms. Annual sales are approximately $30 million. At the end of year 1, accounts receivable were presented in the company's balance sheet as follows. Accounts receivable from clients $ 3,100,000 Less: Allowance for doubtful accounts 80,000 During year 2, $195,000 of specific accounts receivable were written off as uncollectible. Of these accounts written off, receivables totaling $19,000 were subsequently collected. At the end of year 2, an aging...

All sales are on account (credit) with 50% collected in the month of sale, 30% collected in the following month after sale, and 20% collected in the second month after sale.

Black Horse Transportation's sales budget for the first quarter follows: January February March $125,000 300,000 290,000 All sales are on account (credit) with 50% collected in the month of sale, 30% collected in the following month after sale, and 20% collected in the second month after sale. There are no uncollectable accounts. The March cash receipts are: Select one: A. $250,500 B. $172,500 C. $102,500 D. $260,000

Question

After discontinuing all advertising for a tool kit in 2007, the manufacturer noted that sales began...

Solutions

Expert Solution

Related Solutions

Wilcox Mills is a manufacturer that makes all sales on 30-day credit terms. Annual sales are...

All sales are on account (credit) with 50% collected in the month of sale, 30% collected in the following month after sale, and 20% collected in the second month after sale.