As of December 31, Budget, Inc

Multiple Choice

As of December 31, Budget, Inc. had a cash balance of $50,000. December sales were $150,000 and are expected to be $100,000 in January. 20% of sales in any month are cash sales, and 80% of sales are collected during the following month. In January, Budget is expected to have total cash disbursements of $120,000, and Budget requires a minimum cash balance of $50,000. Budget's expected cash receipts for January are

A) $80,000.
B) $100,000.
C) $110,000.
D) $140,000.