Foray Company Finds That Typically 40% of a Month's Sales

Foray Company finds that typically 40% of a month's sales are for cash.Payments on accounts receivable are 70% in the month of sale and 28% in the month following sale.Budgeted sales for June are $120,000, for July $160,000, and for August $140,000.What are the total cash receipts budgeted for July?

A) $151,360
B) $85,400
C) $122,000
D) $262,000
E) $140,000