Woodpecker Co. has $298,000 in accounts receivable on January 1. Budgeted sales for January are $965,000. 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. 51,368,000 b. 5856,000 c. $1,070,000 d. 5642,000