Please provide solution for the correct answer. Thank you! Gargalicana Company is preparing its cash budget for next year. Budgeted sales for four months are as follows: April P80,000 May 160,000 June...

Please provide solution for the correct answer. Thank you!

Gargalicana Company is preparing its cash budget for next year. Budgeted sales for four months are as follows:
April P80,000
May 160,000
June 240,000
July 80,000

Fifty percent of total sales is cash sales. The balance, or the credit sales, is collected in the following manner:
70% in the month following the sale
20% in the second month following the sale
10% in the third month following the sale

How much is the budgeted cash receipts in July?
a.P144,000
b.P104,000
c.P288,000
d.P208,000