Custom Embroidering, Inc. (CEI) manufactures baseball hats with the Arizona State University Sun Devil logo embroidered on the hats. Even though the baseball hats come in a variety of colors, the hats are considered to be a single product. Each hat sells for $20 and CEI has forecasted quarterly sales for 2020 are as follows: Units 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter $150,000 . $200,000 $225,000 $175,000 Dollars 7,500 10,000 11,250 8,750 Assume that seventy-five percent (75%) of the hats are sold for cash and the remaining sales are made on credit. The collection of credit sales is expected to be 50% in the quarter sold and 50% in the quarter following the sale. What is the amount of forecasted total cash collections for the third quarter of 2020? $221,875 $225,000 $168,750 $196,875