The following information pertains to Burnhep Company: Month January February March Sales $60,000 $80,000 $100,000 Purchases $32,000 $40,000 $56,000 i) Cash is collected from customers in the following manner Month of sale Month following the sale 30% 70% ii) 40% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. iii) Labor costs are 20% of sales. Other operating costs are $30,000 per month (including $8,000 of depreciation). Both of these are paid in the month incurred. vi) The cash balance on March 1 is $8,000. A minimum cash balance of $6,000 is required at the end of the month. If the ending cash balance is below the required minimum cash balance, the company can borrow cash from a bank in multiples of $1,000. How much cash will be collected from customers in March? $100,000 $110,000 $94,000