tubajaved203

A company has forecast sales in the first 3 months of the year as follows (figures in millions): January, $80; February, $60; March, $40. 70% of sales are usually paid for in the month that they take place, 20% in the following month, and the final 10% in the next 2 month. Receivables at the end of December were $23 million. What are the forecasted collections on accounts receivable in March?