Greedy Company Expects August Sales to Be $32,000

Greedy Company expects August sales to be $32,000. Approximately 25% of sales are cash sales. Collections are 50% in the month of sale, 40% in the month following the sale, and 5% two months following the sale. The remaining 5% is expected to be uncollectible. is the expected cash collection in August from August sales.

A) $12,000
B) $8,000
C) $20,000
D) $16,000