Question 31 5 pts Problem 5-3 All of Arroyo Company's sales are made on credit. An analysis of past experience reveals the following in regard to the credit sales: .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. Arroyo Company has developed the following sales forecast: November December January February March $66,000 85,000 55,000 75,000 80,000 Q. The budgeted cash receipts for March are: $70,650 $60,750 $12,000 $0