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 $48,000 and $80,000, respectively. The company expects to collect 60% of its credit sales in the month of the sale and the remaining 40% in the following month. What is the expected cash collections from credit sales during the first month? Multiple Choice $28,800 $16.000 $13,200 $19.200