The Cash collections for the month of January, February and March are $ 40,000, $ 60,000, and $ 80,000, respectively. The monthly cash disbursements are expected to be 50% of cash collections. Assume previous months closing balance is taken to next month as opening balance. What is the closing balance of cash reported for the Month of March? a. $ 70,000 O b. $ 60,000 c. $ 90,000 O d. $ 50,000