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Question - Nelson's Management Consultants has found that only 10% of its invoiced amounts are paid in the same month that the work is completed. Sixty percent are paid in the month after the work is completed and 30% are paid in the second month after the work is completed. During December 2010, Nelson's invoiced $200,000 to clients. Projected revenues for the first six months of 2010 are given below.
Month
Revenue
January
$180,000
February
215,000
March
220,000
April
218,000
May
240,000
June
255,000
What are the expected cash receipts for March 2010?
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