Napa Company has found from past experience that 20 percent of its sales are for cash. The remaining 80 percent are on credit. An analysis of credit sales reveals the following:

15 percent of credit sales are paid in the month of sale.

65 percent of credit sales are paid in the first month following the month of sale.

18 percent of credit sales are paid in the second month following the month of sale.

2 percent of credit sales are never collected.

Napa Company has developed the following sales forecast:

November	$66,000
December	$85,000
January	$55,000
February	$75,000
March	$80,000

Q. The budgeted cash receipts for January for sales made in January are:

Group of answer choices

$17,600

$8,250

$55,000

$6,600