The following sales budget has been prepared. All sales are credit sales. May - $30,000 June - $42,000 July - $36,000 August - $39,000 September - $45,000 Collections are 50 percent in the month of sale, 40 percent in the month following the sale, and 5 percent two months following the sale. The remaining 5 percent is expected to be uncollectible. How much cash will the company collect in July? $26, 700 $29, 400 $33, 600 $36, 300