A Company Has Forecast Sales in the First Three Months

question 30

Multiple Choice

A company has forecast sales in the first three months of the year as follows (figures in millions) : January, $90; February, $20; March, $30. 70 percent of sales are usually paid for in the month that they take place and 30 percent 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

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