The Ballentine Company expects sales for June, July, and August of $56,000, $62000, and $52,000, respectively Experience suggests that 45% of sales are for cat, and 55% are on credit The company collects 60% of its credit sales in the month following sale, as in the second month following sale, and 5% are not collected what are the company's expected cash receipts for August from its current and past sales? Mutiple Choice 31.240 $54 640 $64 900