Ballentine Company expects sales for June, July, and August of $63,000, $69,000, and $59,000, 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?

Multiple Choice

• $37,890.

• $61,490.

• $79,200.

• $86,750.

• $114,600.