Question: Hello, I am currently having trouble solving this problem. I got a different answer to the ones in the mutiple choice. I've attached the managerial

Hello,

I am currently having trouble solving this problem. I got a different answer to the ones in the mutiple choice. I've attached the managerial accounting problem below, as well as what I did. Thank you for your time, help, and patience!

Woodpecker Co, has $295,000 in accounts receivable on January 1 Budgeted sales for January are 5801,000. Woodpecker Co. expects to sell 20% of its merchandise for cash or 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 O 05.2000 On 1561.400 , Od. 374.60 75. . (, soo - - 295,000 1180,000+ 480,600 41s,ooo +40, 600 = 455,600 A 475,000 . *

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