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 $29,500 and $46,000, respectively. It also expects credit sales of $56,000 and $66,000, respectively. The company expects to collect 60% of its credit sales in the month of the sale, 35% in the following month, and 5% is deemed uncollectible. What amount of cash collections would appear in the companys cash budget for the first month?

Thanks for the help!