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A company has forecast sales in the first three months of the year as follows (figures in millions): January, 60; February, 20; March, 30. 70
A company has forecast sales in the first three months of the year as follows (figures in millions): January, 60; 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?
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