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 $74,000, respectively. The company expects to collect 35% of its credit sales in the month of the sale and the remaining 65% in the following month. What is the expected cash collections from credit sales during the first month? Multiple Choice $42,250 $14,700 $27,300 $21,300