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 $$31,000$ and $$47,000,$ respectively. It also expects credit sales of $$57,000$ and $$67,000,$ 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

$$50,950$

$$19,950$

$$66,950$

$$47,000$