QUESTION 3 The following credit sales are budgeted by Burt Company May June July August $43,000 60,000 75,000 55,000 In the past, the company collected 60% of its receivables in the month of sale, 30% in the month following the sale, and 7% in the second month following the sale. The budgeted collections from customers for the month of July is: $66,010 O $65,200 $140,710 $49,050