Ballentine Company expects sales for June July, and August of $55,000 $61.000, and $51,000, 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 $33,330 $53,730 $69,600 $75,950 $100,200