1. The following credit and cash sales (respectively) are budgeted by Polex Electronics:

   1. Credit Cash

      January $124,000, $6,000

      February 120,000, 10,000

      March 135,000, 5,000

      April 140,000, 20,000

      May 142,000, 8,000

      The company's past experience indicates that 50% of the accounts receivable are collected in the month of sale, 30% in the month following the sale, and 20% in the second month following the sale. How much does the company anticipate as cash receipts for March?