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Ajax Corporation estimates that for credit sales, 2 0 % of cash is received in the month of sale; 6 0 % in the month

Ajax Corporation estimates that for credit sales, 20% of cash is received in the month of sale; 60% in the month after the sale, and 15% second month after the sale. The remainder is never collected. Ajax had credit sales of $23,000 in January; $23,000 in February, and $19,000 in March. Given the following information, determine the cash collections for March.
A) $18,500
B) $20,600
C) $22,700
D) $24,800
E) $26,900

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