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 $40,000 and $73,000, respectively. The company expects to collect 30% of its credit sales in the month of the sale and the remaining 70% in the following month. What is the expected cash collections from credit sales during the first month? Multiple Choice $12,000 $28,000 $22.000