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A company has forecasted sales of $50,000 in January, $40,000 in February, and $60,000 in...

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Accounting

A company has forecasted sales of $50,000 in January, $40,000 in February, and $60,000 in March. All sales are on credit with 50% collected in the month of the sale, 30% collected in the month following the sale, and the remaining amount collected in the second month after the sale. After collections are made in the month of March, what will the accounts receivable balance be?
$59,000
$21,000
$47,000
$38,000
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