Assume a company is preparing a budget for its first two months of operations. During the first and second months it expects cash sales of $26,000 and $42,500, respectively. It also expects credit sales of $52,500 and $62,500, respectively. The company expects to collect 30% of its credit sales in the month of the sale, 60% in the following month, and 10% is deemed uncollectible. What amount of cash collections would appear in the company's cash budget for the first month? Multiple Choice $41,750 $15,750 $58,250 $42,500