Woodpecker Co. has $291,000 in accounts receivable on January 1 . Budgeted sales for January are $827,000. Woodpecker Co. expects to sell 20% of its merchandise for cash. Of the remaining 80% of sales on account, 75% are expected to be collected in the month of sale and the remainder the following month. The January cash collections from sales are a. $571,560 b. $952,600 c. $762,080 d. $1,243,600 Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business-September, October, and November-are $232,000, $303,000, and $414,000, respectively. The company expects to sell 30% of its merchandise for cash. Of sales on account, 80% are expected to be collected in the month of the sale and 20% in the month following the sale. The cash collections expected in September from accounts receivable are estimated to be a. $129,920 b. $232,000 c. $278,400 d. $162,400