Morgan company's budgeted income statement reflects the following amounts: sales purchases expenses january $121,000 $79,000 24,100 february 111,000 march april 67,000 24,300 82,250 85,500 126,000 131,000 27,100 28,700 sales are colected 50% in the month of sale, 25% in the month following sale. and 24% in the second month following sale. one percent of sales is uncollectible and expensed at the end of the year. morgan pays for all purchases in the month following purchase and takes advantage of a 2% discount. the following balances are as of january 1: canh $89,000 accounts receivable 59,000 accounts payable 73,000 of this balance, $29,500 will be collected in january and the remaining amount will be collected in february. the monthly expense figures include $5,100 of depreciation. the expenses are paid in the month incurred. morgan's budgeted cash receipts in february are: multiple choice $8s,750. $89,750. $115,250,