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 $25,000 and $41,500, respectively. It also expects credit sales of $51,500 and $61,500, respectively. The company expects to collect 45% of its credit sales in the month of the sale, 50% in the following month, and 5% is deemed uncollectible. What amount of cash collections would appear in the company's cash budget for the first month? . Multiple Choice $64,675 $23.175 $64.675 $23.15 $48.5 $4500