A Company Has Forecast Sales in the First Three Months

question 17

Multiple Choice

A company has forecast sales in the first three 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

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Definitions:

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