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Woodpecker Co. has $302,000 in accounts receivable on January 1. Budgeted sales for January are...

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Accounting

Woodpecker Co. has $302,000 in accounts receivable on January 1. Budgeted sales for January are $813,000. Woodpecker Co. expects to sell 20% of its merchandise for cash. Of the remaining 80% of sales on account, 75% are expected to be collected in the month of sale and the remainder the following month. The January cash collections from sales are

a.$1,254,400

b.$571,440

c.$952,400

d.$761,920

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