Assume a company is preparing a budget for its first two months of operations. During the first and second months it expects credit sales of $42,000 and $71,000, respectively. The company expects to collect 45% of its credit sales in the month of the sale and the remaining 55% in the following month. What is the expected cash collections from credit sales during the first month? Multiple Choice $18,900 $23,100 $17,100 $30,250