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Question
A company has forecast sales in the first 3 months of the year as follows (figures in millions): January, $90; February, $20; March, $30. 70% of sales are usually paid for in the month that they take place and 30% in the following month. Receivables at the end of December were $20 million. What are the forecasted collections on accounts receivable in March?
A. $27 million
B. $50 million
C. $23 million
D. $35 million
Answer
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Related questions
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