Wichita Industries' sales are 20% for cash and 80% on credit. Credit sales are collected as follows: 30% in the month of sale, 50% in the next month, and 20% in the following month. On December 31, the accounts receivable balance includes $20,000 from November sales and $56,000 from December sales. Assume that total sales for January and February are budgeted to be $58,000 and $116,000, respectively. What are the expected cash receipts for February from current and past sales? Multiple Choice $46,400.