Given the following information, budgeted cash receipts in February are January February March April Sales $127,000 117,000 132,000 137,000 Purchases Expenses $85,000 $24,700 73,000 24,900 88, 250 27,700 91,500 29, 300 Sales are collected 50% in the month of sale, 25% in the month following sale, and 24% in the second month following sale. One percent of sales is uncollectible and expensed at the end of the year. All purchases are paid for in the month following purchase and take advantage of a 2% discount. The following balances are as of January 1: Cash Accounts receivable* Accounts payable $95,000 65,000 79,000 of this balance, $32,500 will be collected in January and the remaining amount will be collected in February. The monthly expense figures include $5,700 of depreciation. The expenses are paid in the month incurred. o $90,250. o $94,250. $94,250. o $121,840. o $122,390. o $122,750