6. Mercer, Inc. had the following sales for the past three 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. Credit Sales January $60,000 February $90,000 $80,000 March What are Mercer's total cash receipts for the month of March? (ILO 2-1 point) 7. Explain the hedging principle. (ILO 1-1 point)