A Company's History Indicates That 20% of Its Sales Are

True/False

A company's history indicates that 20% of its sales are for cash and the rest are on credit.Collections on credit sales are 20% in the month of the sale,50% in the next month,and 30% the following month.Projected sales for January,February,and March are $75,000,$92,000 and $60,000,respectively.The March expected cash receipts from all current and prior credit sales are $80,500.