Ballentine Company expects sales for June July, and August of $51,000,$57.000, and $47,000, 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 $70.550 $93,000 $49,850 564,800 5.1.050