Mikhail Corporation has the following sales forecasts for the first three months of 2018: January. $36,000; February 24,000; March 40,000. Sixty-five percent of sales are collected in the month of the sale and the remainder are collected in the following month. A/R balance (1/1/18) $16,000 Cash balance (1/1/18). 12,000 The minimum cash balance is $20,000. Cash can be borrowed in $1,000 increments from the local bank (assume no interest charge). How much cash would be collected in March from sales?

A. $32,000

B. $58,400

C. $48,000

D. $34,400

Answer rating: 100% (QA)

Cash collected from February sal... View the full answer