Wichita Industries' sales are 20% cash and 80% on credit. Credit sales are collected as follows: 40% in the month of sal

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Wichita Industries' sales are 20% cash and 80% on credit. Creditsales are collected as follows: 40% in the month of sale, 50% inthe month following the sale, and 10% in the second month followingthe sale. On December 31, the accounts receivable balance includes$31,000 from November sales and $36,000 from December sales. Assumethat total sales for January are budgeted to be $69,000. What arethe expected cash receipts for January from the current and pastsales?
Multiple Choice
$35,880.
$83,080.
$68,980.
$96,880.
$84,880.