If Excel Inc. has projected sales of $30,000 in January, $20,000 in February, and $20,000 in March, where 20% of sales are cash sales and the remaining credit sales are collected the month after, what are the cash receipts in March?
A) $20,000
B) $16,000
C) $21,400
D) $10,300

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The Answer of If Excel Inc. has projected sales of $30,000 in January, $20,000 in February, and $20,000 in March, where 20% of sales are cash sales and the remaining credit sales are collected the month after, what are the cash receipts in March?
A) $20,000
B) $16,000
C) $21,400
D) $10,300