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 $76,500, of which $33,000 is from November sales. Total sales for January and February are budgeted to be $115,000 and $135,000, respectively.

What are Boone Co.'s budgeted cash receipts for January?

Multiple Choice

$93,750.

$76,850.

$96,050.

$99,850.

$129,050.