American Furniture provided the following information relevant to its sales for December Year 1 and the first quarter of Year 2: December Year 1 January Year 2 February Year 2 (actual) (budget) (budget) March Year 2 (budget) Credit sales $54,000 $134,000 $149,000 $104,000 Cash sales $15,000 $19,000 $24,000 $6,000 Based on the company's collection history, 42% of credit sales are collected in the month of sale and the remainder is collected in the following month. Required: Calculate the amount of budgeted cash receipts for February. Show work. American Furniture provided the following information relevant to its sales for December Year 1 and the first quarter of Year 2: December Year 1 January Year 2 February Year 2 (actual) (budget) (budget) March Year 2 (budget) Credit sales $54,000 $134,000 $149,000 $104,000 Cash sales $15,000 $19,000 $24,000 $6,000 Based on the company's collection history, 42% of credit sales are collected in the month of sale and the remainder is collected in the following month. Required: Calculate the amount of budgeted cash receipts for February. Show work.