Woodpecker Co. has $298,000 in accounts receivable on January 1. Budgeted sales for January are $862,000. 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. $790,080 Ob. $987,600 Oc. $1,285,600 Od. $592,560