Multiple Choice $60,500. $45,660. $94,200. $9,660. $48,300

The Professional Service Company expects 80% of sales for cash and 20% on credit The company collects 70% of its credit sales in the month following sale, 20% in the second month following sale, and 10% are not collected (that is, they are "bad debts"). Expected sales for June, July, and August are $49,000, $55,000, and $45,000, respectively. What are the company's expected total cash receipts in August? Multiple Choice O O O O O $60,500. $43,660 $94,200 $9,660 $48,300.