2. Mercer, Inc. had the following sales for the past six months. Mercer collects its credit sales 30% in the month of sale, 60% one month after the sale, and 10% two months after the sale.

What are Mercer's total cash receipts for the month of March? (Please show step by step how you got to your answer)

Cash Sales Credit Sales

January $50,000 $50,000

February $70,000 $110,000

March $55,000 $95,000

April $78,000 $130,000

May $80,000 $105,000

June $75,000 $148,000