Cloudy Company had the following historical collection pattern for its credit sales:

$70\%$ collected in the month of sale

$15\%$ collected in the first month after month of sale

$9\%$ collected in the second month after month of sale

$5\%$ collected in the third month after month of sale

$1\%$ uncollectible

The sales on open account $($credit sales$)$ have been budgeted for the last six months of the year as shown below:

July $ $88,000$

August $ $100,000$

September $ $112,000$

October $ $124,000$

November $ $136,000$

December $ $118,000$

The estimated cash collection by Cloudy Company during August from July and August credit sales is:

Multiple Choice

$$98,880.$

$$92,000.$

$$101,320.$

$$61,600.$

$$83,200.$