(Answered) The forecasted sales pertain to skifurn

Accounting

The forecasted sales pertain to Skifurn, Inc.:

Month	Sales
January	mce_markernbsp; 900,000
February	1,000,000
March	600,000
April	400,000

Collection pattern: 70 percent in month of sale; 30 percent in month following the sale

Accounts Receivable (December 31): $140,000

Finished Goods Inventory (December 31): 160,000

The company has a selling price of $10 per unit and expects to maintain ending inventories equal to 20 percent of the next month's sales.

Calculate the amount of cash that Skifurn expects to collect in February?

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