Question 10 ABC company has budgeted the following sales. Answer saved Marked out of 2.00 January February P Flag question Sales ( on Income statement) $100,000 $200,000 Sales are 70% credit and 30% cash Credit sales are collected 100% in the month following the sale A/R at Dec 31 = $85,000 What are the cash collections for January and February ? Select one: O $20,000 for January and $120,000 for February O none of these $115,000 for January and $130,000 for February O $70,000 for January and $60,000 for February Clear my choice