1 point 4. Actual sales in Ping2 Company were P30,000 in June, P50,000 in July, and P70,000 in August. Sales in September are expected to be P60,000. If 30 percent of a month's sales are collected in the month of sale, 50 percent in the first month after sale, and 15 percent in the second month after sales, then cash receipts for September are budgeted to be: O P60,500 O P57,000 O P62,000 O P70,000 1 point