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: 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:

Question

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:  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:

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The Answer of 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:  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: