Budgeting Cash CollectionsSpencer Consulting, which invoices its clients on terms $2/10,$ n$/30,$ had credit sales for May and June of $$70,000$ and $$80,000,$ respectively. Analysis of Spencers operations indicates that the pattern of customers payments on account is as follows $($percentages are of total monthly credit sales$)$:Receiving DiscountBeyond Discount PeriodTotalsIn month of sale$50\%20\%70\%$In month of following sale$15\%10\%25\%$Uncollectible accounts, returns, and allowances$5\%100\%$Determine the estimated cash collected on customers accounts in June.