A company estimates that credit sales will be $70,000 during July, $60,000 for June, and $75,000 for May. In the past, the company collected 60% of its receivables in the month of sale, 30% in the month following the sale, and 10% in the second month following the sale. How much are the budgeted collections from customers for the month of July?

Question 34 options:

	$60,000
	$42,000
	$70,000
	$67,500