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A company's history indicates that 25% of its sales are for cash and the rest are on credit. Collections on credit sales are 25% in

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A company's history indicates that 25% of its sales are for cash and the rest are on credit. Collections on credit sales are 25% in the month of the sale, 40% in the next month, 20% the following month, and 15% is uncollectible. Projected sales for December, January, and February are $67,000, $92,000 and $102,000, respectively. The February expected cash receipts from all current and prior credit sales is: Multiple Choice $41,475 $56,775 $72,075 $18,690 $77,600

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