Morrison Company Has the Following Budgeted Sales: January $80,000, February

Multiple Choice

Morrison Company has the following budgeted sales: January $80,000, February $120,000, and March $100,000. 40% of the sales are for cash and 60% are on credit. For the credit sales, 50% are collected in the month of sale, and 50% the next month. The total expected cash receipts during March are:

A) $112,000.
B) $106,000.
C) $105,000.
D) $100,000.