. The following information pertains to the January operating budget for Casey Corporation Budgeted sales for January $204,000 and February $100,000 Collections for sales are 40% in the month of sale and 60% the next month. Gross margin is 35% of sales. Administrative costs are $12,000 each month. Beginning accounts receivable is $21,000. Beginning inventory is $22,000. Beginning accounts payable is $67,000. (All from inventory purchases.) Purchases are paid in full the following month Desired ending inventory is 20% of next month's cost of goods sold (COGS). For January, budgeted cash collections are O A. $21,000 OB. $81,600 OC. $204,000 D. $102,600