Wichita Industries' sales are 20% cash and 80% on credit. Credit sales are collected as follows: 40% in the month of sale, 50% in the month following the sale, and 10% in the second month following the sale. On December 31, the accounts receivable balance includes $31,000 from November sales and $36,000 from December sales. Assume that total sales for January are budgeted to be $69,000. What are the expected cash receipts for January from the current and past sales? Multiple Choice $68,980. $83,080. $84,880. $35,880