Exercise 7-5A (Static) Determining cash receipts from accounts receivable LO 7-2 Carmen's Dress Delivery operates a mail-order business that sells clothes designed for frequent travelers. It had sales of $400,000 in December. Because Carmen's Dress Delivery is in the mail-order business, all sales are made on account. The company expects a 30 percent drop in sales for January. The balance in the Accounts Receivable account on December 31 was $60,000 and is budgeted to be $41,000 as of January 31. Required a. Determine the amount of cash Carmen's Dress Delivery expects to collect from accounts receivable during January. Expected cash collection