The Ballentine Company Expects Sales for June,July,and August of $48,000,$54,000,and

Multiple Choice

The Ballentine Company expects sales for June,July,and August of $48,000,$54,000,and $44,000,respectively.Experience suggests that 40% of sales are for cash and 60% are on credit.The company collects 50% of its credit sales in the month following sale,45% in the second month following sale,and 5% are not collected.What are the company's expected cash receipts for August from its current and past sales?

A) $29,160.
B) $46,760.
C) $61,160.
D) $66,200.
E) $78,800.