The Professional Service Company expects 75% of sales for cash and 25% on credit. The company collects 70% of its credit sales in the month following sale. 20% in the second month following sale, and 10% are not collected (that isthey are "bad debts"). Expected sales for June, July, and August are $58,000. $64.000, and $54.000, respectively. What are the company's expected total cash receipts in August? Multiple Choice $54,600 $74,900. $107,500. $56,400. $14.100