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, and 20% the following month. Projected sales for January, February, and March are $67,000, $92,000 and $102,000, respectively. The March expected cash receipts from all current and prior credit sales is:

Multiple Choice

• $41,475
• $72,075
• $56,775
• $75,700
• $77,600