Home Corporation will open a new store on January 1. Based on experience from its other retail outlets, Home Corporation is making the following sales projections: Cash Sales Credit Sales January $60,000 $40,000 February $30,000 $50,000 March $40,000 $60,000 April $40,000 $80,000 Home Corporation estimates that 70% of the credit sales will be collected in the month of sale, with the balance collected in the FIRST month following the month of sale. In a cash budget for April, the total cash receipts will be: Multiple Choice $74,000 $57.000 $114,000 Multiple Choice $74,000 $57.000 $114,000 $97,000