January February March April Credit Sales $40,000 $50,000 $60,000 $80,000 Home Corporation estimates that 70% of the credit sales will be collected in the month of sale, with the balance collected in the first month following the month of sale. Based on these data, the balance in accounts receivable on January 31 will be: Multiple Choice $12.000 O $28,000 $18,000 O $58,000