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Find what are forecasted collections on accounts receivable

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Problem 1: A health system has forecasted net patient revenue in the first 3 months of the year as follows (figures in millions): January, $200; February, $140; March, $100. Fifty percent of services are usually paid for in the month that they take place, 30% in the following month, and the final 20% in the next month. Receivables at the end of December were $100 million. What are the forecasted collections on accounts receivable in March? Please show all work.

Reference no: EM133004254

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