Boone Co.'s sales, based on past experience, are 20% cash and 80% credit. Credit sales are typically collected as follows: 40% in the month of sale, 50% in the month after the sale, and 10% in the second month following month of sale. On December 31, the accounts receivable balance is $57000, of which $18,000 is from November sales. Total sales for January and February are budgeted to be $102,000 and $122,000, respectively. What are Boone Co's budgeted cash receipts for January? Multiple Choice $89,300. $85,540. $68,900. $103,540