BITCO Express prepared the following sales budget: Month Cash Sales Credit Sales March $10,000 $20,000 April 20,000 30,000 May 30,000 40,000 I June 40,000 50,000 Credit collections are 50% in the month of sale, 40% in the month following the sale, and 5% two months following the sale. The remaining 5% is expected to be uncollectible. What are the total cash collections in May? O $63,000 O $70,000 $33,000 O $53,000 O $30,000