The Cash Sales for the next three months (January to March) been estimated as $ 40,000, $ 50,000, and $ 60,000 respectively. The company credit policies state that 50% of credit sales would be collected in the same month and the remaining in the second month of sales. What are the total cash sales for the first quarter of next year to be reported in Cash budget? a. $ 120,000 b. $ 40,000 c. $ 150,000 d. $ 30,000