Question 30 5 pts ot 01 PM ot 9 PM Arroyo Company has found from past experience that percent of its sales are for cash. The remaining 90 percent are on credit. An analysis of credit sales reveals the following: 20 percent of credit sales are paid in the month of sale. 60 percent of credit sales are paid in the first month following the month of sale, 15 percent of credit sales are paid in the second month following the month of sale, 5 percent of credit sales are never collected. Arroyo Company has developed the following sales forecast: 331 November $66,000 December 85,000 S 320 55,000 ard January February 75,000 March 80,000 Biz Problem 5-2 The budgeted cash receipts for March are: O $70,325 nting $66,809 O $65.788 $69.250 X C w