Geiger Corporation has the following sales forecasts for the first three months of the current year: Month January February March Sales $36,000 24,000 40,000 Sixty-five percent of sales are collected in the month of the sale and the remainder are collected in the following month Accounts receivable balance (January 1) Cash balance (January 1) $22,800 22,000 What is the cash balance at the end of January, assuming that cash is received only from customers and that $48,000 is paid out during January? $20,200 O $19,400 $20,600 $21,000