Question 8 3. The following are forecasts of sales and purchases for Gellar Company: Marked out of 7.50 P Flag Question April May June Sales $80,000 90,000 85.000 Purchases $30,000 40,000 30,000 All sales are on credit. Records show that 70 percent of the customers pay the month of the sale, 20 percent pay the month after the sale, and the remaining 10 percent pay the second month after the sale. Purchases are all paid the following month at a 2 percent discount. Cash disbursements for operating expenses in June were $5,000. (a) Required: Calculate the total cash receipts for June Select one or more: a $77,500 b. $85,500 c. $82,500 d. $80,500