The Model Company is to begin operations in April. It has budgeted April sales of $44,000, May sales of $48,000, June sales of $54,000, July sales of $56,000, and August sales of $52,000. 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?

Multiple Choice

• $46,324.

• $51,770.

• $57,000.

• $51,170.