Ingalls Mercantile Inc. sells bolts of fabric to retailers for $80 per bolt. The company's accountant has prepared the following sales forecast (in bolts) for the first quarter of 2013: January February March 600 bolts 1,000 bolts 700 bolts Historically, the cash collection of sales has been as follows: 60 percent in the month of sale, 30 percent in the month following sale, and 9 percent in the second month following sale. Cash receipts for March are expected to be: