19. Limelite Ltd, a retail store, projects sales for its first three months of operation as follows. Credit sales Cash sales Total sales January $150,000 $60,000 $210,000 February $188,000 $50,000 $238.000 March $176,000 $55,000 $231,000 L 1 L Inventory on 1 January is $40,000. Subsequent beginning inventories should be 40% of that month's cost of goods sold. Goods are priced at 140% of their cost 50% of purchases are paid for in the month of purchase; the balance is paid in the following month. It is expected that 50% of credit sales will be collected in the month following sale, 30% in the second month following the sale and the balance the third month. A 5% discount is given if payment is received in the month following sale. What are the anticipated cash receipts for January? Select one: a. None of these b. $135,000 C. $60,000 d. $150,000 e. $210,000