Boone Co.'s sales, based on past experience, are 20.00% cash sales and 80.00% credit sales. Credit sales are typically collected as follows: 40.00% in the month of sale, 50.00% in the month after the sale, and 10.00% in the second month. On December 31, the accounts receivable balance is $50,700, of which $11,100 is from November sales. Total sales for January and February are budgeted to be $90,000 and $110,000, respectively.
What are Boone Co.'s budgeted cash receipts for February?
A)$109,780
B) $99,800
C) $104,790
D) $94,810
E) $89,820