Question 12 ABC company has budgeted the following sales. Answer saved January February Marked out of 2.00 Sales ( on Income statement) $100,000 $200,000 P Flag question Sales are 80% credit and 20% cash Credit sales are collected 50% in the month of sale and 50% 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 $60,000 for January and $120,000 for February O $125,000 for January and $120,000 for February O $145,000 for January and $160,000 for February O none of the answers is correct Clear my choice