17.

The following information pertains to Monroe Company: Month January February March Sales $60,000 $80,000 $101,000 Purchases $36,000 $42,000 $64,000 Cash is collected from customers in the following manner: Month of sale 40% Month following the sale 60% 45% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. Labor costs are 25% of sales. Other operating costs are $38,000 per month (including $9,000 of depreciation). Both of these are paid in the month incurred. The cash balance on March 1 is $9,000. A minimum cash balance of $6,000 is required at the end of the month. Money can be borrowed in multiples of $1,000. How much cash will be collected from customers in March? A. $120,400 B. $92,600 C. $88,400 O D. $101,000