As of January 1 of the Current Year,the Grackle Company

Multiple Choice

As of January 1 of the current year,the Grackle Company had accounts receivables of $50,000.The sales for January,February,and March were as follows: $120,000,$140,000,and $150,000,respectively.Of each month's sales,20% are for cash.Of the remaining 80% (the credit sales) ,60% are collected in the month of sale,with the remaining 40% collected in the following month.What is the total cash collected (both from accounts receivable and cash sales) in the month of March?

A) $74,800
B) $146,800
C) $102,000
D) $116,800