If 23% of the opening receivables are still outstanding at the end of March, what will be the budgeted receivables figure at that date?

At the beginning of March 2012, INS Plc has an opening balance of $60,000 on its receivables ledger. Sales of $160,000 have been budgeted for March and it is budgeted that 60% of these will be settled in March after a cash discount of 2.5%.

If 23% of the opening receivables are still outstanding at the end of March, what will be the budgeted receivables figure at that date?
A . $76,200
B . $77,800
C . $80,200
D . $110,200

Answer: B