The following information pertains to sales of XYZ Company: Collections of sales are generally 20% in cash and 80% in credit. This means in the month of the sale 20% is paid in cash to XYZ and XYZ extends credit for the remaining 80% of the sales. * The credits sales are collected as follows: * 30% in the month of the sale, 60% in the month after the sale, * 6% two months after the sale, * 4% are never collected If the January sales are $15,500, what are the collections of credit sales in the month of January? O A. $3,100 O B. $3,720 OC. $12,400 OD. $15,500