Ballentine Company expects sales for June, July, and August of $61,000, $67,000, and $57000, 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? $36,750. $76,800, $59,550, $84,050