A health system has forecast net patient revenue in the first 3 months of the ye

Question

A health system has forecast net patient revenue in the first 3 months of the year as follows (figures in millions): January, $110; February, $120; March, $140. 60% of Services are usually paid for in the month that they take place and 40% in the following month. Receivables at the end of December were $94 million. What are the forecasted collections on accounts receivable in March?
A. $122 million B. $132 million C. $147 million D. $152 million A health system has forecast net patient revenue in the first 3 months of the year as follows (figures in millions): January, $110; February, $120; March, $140. 60% of Services are usually paid for in the month that they take place and 40% in the following month. Receivables at the end of December were $94 million. What are the forecasted collections on accounts receivable in March?
A. $122 million B. $132 million C. $147 million D. $152 million
A. $122 million B. $132 million C. $147 million D. $152 million

Explanation / Answer

Forecasted collections on accounts receivable in March =(120*40%)+(140*60%)= 132 Option B is correct

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