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 $28,000 and $44,500, respectively. It also expects credit sales of $54,500 and $64,500, 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

• $44,350
• $16,350
• $60,850
• $44,500