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 $42,000 and $62,000, 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 from credit sales would the company include in its cash budget for the second month? Multiple Choice $37,200 $50,000 $21,700 $46,900