Simpson Glove Company has made the following sales projections for the next six months. All sales are credit sales. March$58,000 June $64,000 April 67,000 July 75,000 May49,000 August79,000 Sales in January and February were $41,000 and $39,000, respectively. Experience has shown that of total sales receipts 10 percent are uncollectible, 40 percent are collected in the month of sale, 30 percent are collected in the following month, and 20 percent are collected two months after sale. Prepare a monthly cash receipts schedule for March. What is the cash collections from March sales? What is the cash collections from February collected in March? What is the cash collections from January collected in March? Choose... $17,400 $26,800 $32,200 $7,800 $8,200 $11,700