A company's history indicates that 20% of its sales are for cash and the rest are on credit. Collections on credit sales are 20% in the month of the sale, 50% in the next month, and 20% the following month. Projected sales for January, February, and March are $75,000, $100,000 and $110,000, respectively. The March expected cash receipts from current and prior credit sales is:

Multiple Choice

• $58,600

• $80,600

• $69,600

• $87,000

• $105,000