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A mattress store had monthly sales of $20,000, $18,000 and $15,000 in the months of December, January, and February, respectively. Collections are usually 50% in

A mattress store had monthly sales of $20,000, $18,000 and $15,000 in the months of December, January, and February, respectively. Collections are usually 50% in cash, 30% in one month and the balance at the end of two months. Assuming no bad debt, how much cash will the store collect in February?

Multiple Choice

$16,800

$16,600

$16,900

$16,700

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