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39. In a statement of cash flows, receipts from sales of property, plant, and equipment should be classified as a(n): A. Operating activity. B. Financing activity. C. Investing activity. D. Selling activity. 40. Justin's Plant Store, a retailer, had expected sales for the first 3 months of operations appear below Expected Sales $10,000 $24,000 $16,000 $25,000 January February... April. Sixty percent of all sales should be for cash; the balance will be on credit. Seventy-five percent of the credit sales should be collected in the month following the month of sale, with the balance collected in the following month. The Accounts Receivable balance that would appear in the March 31 budgeted balance sheet would be: A. $15,000 B. $16,000 C. $8,800 D. $12,400