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Question
A company has forecast sales in the first 3 months of the year as follows (figures in millions): January, $60; February, $80; March, $100. 60% of sales are usually paid for in the month that they take place and 40% in the following month. Receivables at the end of December were $24 million. What are the forecasted collections on accounts receivable in March?
A. $88 million
B. $92 million
C. $100 million
D. $140 million
Answer
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Related questions
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