Woodpecker Co. has $304,000 in accounts receivable on January 1 . Budgeted sales for January are $810,000. 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 2. 5952,000 b. $71,200 c. $761,600 d. $1,256,000