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 $$24,500$ and $$41,000,$ respectively. It also expects

credit sales of $$51,000$ and $$61,000,$ respectively. The company expects to collect $35\%$ of its credit sales in the month of the sale, $60\%$ 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

$$42,350$

$$17,850$

$$58,850$

$$41,000$