Explorers Company finds that typically 40% of a month's sales are for cash. Payments on accounts receivable are 70% in the month of sale and 28% in the month following sale and 2% in the second month following sale. Budgeted sales for May are 100,000, for June $120,000, for July $160,000, and for August $140,000. What are the total cash receipts budgeted for July? $122,000 O $152,560 O $262.000. $140,000 O $85,400 Explorers Company finds that typically 40% of a month's sales are for cash. Payments on accounts receivable are 70% in the month of sale and 28% in the month following sale and 2% in the second month following sale. Budgeted sales for May are 100,000, for June $120,000, for July $160,000, and for August $140,000. What are the total cash receipts budgeted for July? $122,000 O $152,560 O $262.000. $140,000 O $85,400