164 The Ballentine Company expects sales for June, July, and August of $49,000, $55,000, and $45,000, respectively. Experience suggests that 40% of sales are for cash and 60% are on credit. The company collects 55% of its credit sales in the month following sale, 40% 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? Skipped Multiple Choice 0 $67,850. 0 $89,400. 0 $29,910. 0 $47,910. O $62,400