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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

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, 45% in the month after the sale, 20% in the second month after the sale and 10% is uncollectible. Projected sales for December, January, and February are $61,000, $86,000 and $96,000, respectively. The February expected cash receipts from current and prior credit sales is:

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