Fresplanade Co. had the following historical collection pattern for its credit sales: 70% collected in the month of sale 14% collected in the first month after month of sale 7% collected in the second month after month of sale 6% collected in the third month after month of sale 3% uncollectible The sales on open account (credit sales) have been budgeted for the last six months of the year as shown below: July August September 100,000 $ 76,000 $ 88,000 $112,000 $106,000 October November124,000 December The estimated cash cllection by Fresplanade Co. during August from Juily and August credit sales is: $84,760 $53,200 $87,640 $72,240 $80,080