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 next month, and 10% In the following month. On December 31, the accounts receivable balance includes $17,000 from November sales and $45,000 from December sales. Assume that total sales for January are budgeted to be $55,000. What are the expected cash receipts for January from the current and past sales? Multiple Choice $28,600 $68,100 $67,800 $72,100 $83,100