Woodpecker Co. has $303,000 in accounts receivable on January 1. Budgeted sales for January are $1,000,000. 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 $1,103,000 $1,406,000 $661,800 O$882,400