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The following information pertains to Monroe Company: Month Sales Purchases January $ 70 comma 000$70,000 $ 38 comma 000$38,000 February $ 88 comma 000$88,000 $

The following information pertains to Monroe Company:

Month

Sales

Purchases

January

$ 70 comma 000$70,000

$ 38 comma 000$38,000

February

$ 88 comma 000$88,000

$ 40 comma 000$40,000

March

$ 101 comma 000$101,000

$ 66 comma 000$66,000

bullet

Cash is collected from customers in the following manner:

Month of sale

3030%

Month following the sale

7070%

bullet

4545%

of purchases are paid for in cash in the month of purchase, and the balance is paid the following month.

bullet

Labor costs are

2525%

of sales. Other operating costs are

$ 33 comma 000$33,000

per month (including

$ 10 comma 000$10,000

of depreciation). Both of these are paid in the month incurred.

bullet

The cash balance on March 1 is

$ 8 comma 000$8,000.

A minimum cash balance of $6,000 is required at the end of the month. Money can be borrowed in multiples of $1,000.

How much cash will be collected from customers in March?

A.

$ 118 comma 300$118,300

B.

$ 101 comma 000$101,000

C.

$ 91 comma 900$91,900

D.

$ 97 comma 100

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