(Answered) Company expected cash receipts for January

Finance

Problem: A company has a cash balance of $50,000 as of Dec 31st. Decembers 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 the company is expected to have total cash disbursement of $120,000, and the company requires a minimum cash balance of $50,000. What is the company's expected cash receipts for January? Provide justifications and citations for your responses.

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