A company's history indicates that 30% 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 month following the sale, and 25% in the second month following the sale. Projected sales for January, February, and March are $65,000, $90,000 and $100,000, respectively. The March expected cash receipts from current and prior credit sales is...

• $61,875

• $51,875

• $81,250

• $95,000

• $56,875