Excellent Corp. expects the following total sales for the coming year: $10,000 $12,000 Quarter 1 Quarter 2 Quarter 3 Quarter 4 $15,000 $20,000 From past experience, Excellent Corp. expects that, on average, 20% of total sales are cash and 80% of total sales are on credit. Of the credit sales, Excellent Corp. expec that 80% will be paid in cash during the quarter of sale, and the remaining 20% will be paid in the following quarter. The balance in Accounts Receivable as of the last qua of the prior year was $1,500. This will be collected in cash during the first quarter of the coming year. Calculate the total amount of cash receipts from sales expected in Quarter 1 of the coming year. O a. $4,000 O b. $9,900 O c. $8,400 O d. $6,400