TB MC Qu. 13-83 (Algo) The Model Company is to begin operations in April... The Model Company is to begin operations in April. It has budgeted April sales of $68,000, May sales of $72.000, June sales of $78,000. July sales of $80,000, and August sales of $76,000. Note that 10% of each month's sales is expected to represent cash sales, 75% of the balance is expected to be collected in the month following the sale, 17% the second month, 6% the third month, and the balance is expected to be uncollectible. What is the amount of cash to be collected in the month of July? Mutiple Choice $83,000. $74,460. $567,412. $75,338