The Professional Service Company expects 80% of sales for cash and 20% on credit. The company collects 80% of its credit sales in the month following sale, 15% in the second month following sale, and 5% are not collected (that is, they are "bad debts"). Expected sales for June, July, and August are $65,000, $71,000, and $61,000, respectively. What are the company's expected total cash receipts in August? Multiple Choice $62.110 O $78,250 O O $123,000. $66.550 O O O $13,310