Berg Co. has $299,000 in accounts receivable on January 1. Budgeted sales for January are $899,000. Berg Co. expects to sell 20% of its merchandise for cash. Of the remaining 80% of sales on account, 75% are expected to be collected in the month of sale and the remainder the following month. The January cash collections from sales are O$1,317,200 O$814,560 O$1,018,200 O5610,920