Wichita Industries' sales are 10% cash and 90% on credit. Credit sales are collected as follows: 30% in the month of sale, 60% in the next month, and 10% in the second following month. On December 31, the accounts receivable balance includes $28,000 from November sales and $49,000 from December sales. Assume that total sales for January are budgeted to be $66,000. What are the expected cash receipts for January from the current and past sales? Multiple Choice $24,420 $69,220 $87,820