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

Multiple Choice

A company's history indicates that 20% of its sales are for cash and the rest are on credit. Collections on credit sales are 30% in the month of the sale, 50% in the next month, and 15% the following month. Projected sales for January, February, and March are $60,000, $85,000 and $95,000, respectively. The March expected cash receipts from all current and prior credit sales is:

A) $57,000
B) $63,080
C) $64,000
D) $80,750
E) $90,250