Ingalls Mercantile Inc Historically,the Cash Collection of Sales Has Been as Follows: 60

Multiple Choice

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 2009:
$\begin{array}{lr}\text { January } & 600 \text { bolts } \\\text { February } & 1000 \text { bolts } \\\text { March } & 700 \text { bolts }\end{array}$
Historically,the cash collection of sales has been as follows: 60 per cent in the month of sale,30 per cent in the month following sale,and 9 per cent in the second month following sale.
Cash receipts for March are expected to be:

A) $ 61 920
B) $182 160
C) $ 33 600
D) $ 57 840