Duffy Corporation has prepared the following sales budget: Month Credit Sales May $68,000 June 80,000 July 74,000 August 92,000 September 75,000 Collections are 40% in the month of sale, 45% in the month following the sale, and 10% two months following the sale. The remaining 5% is expected to be uncollectible. How much cash does Duffy Corporation receive in September? Group of answer choices $ 78,500 $ 78,800 $ 79,200 $ 78,100

Duffy Corporation has prepared the following sales budget:

Month	Credit Sales
May	$68,000
June	80,000
July	74,000
August	92,000
September	75,000

Collections are 40% in the month of sale, 45% in the month following the sale, and 10% two months following the sale. The remaining 5% is expected to be uncollectible. How much cash does Duffy Corporation receive in September?

Group of answer choices

$ 78,500

$ 78,800

$ 79,200

$ 78,100