Kneeling Corporation has the following sales forecasts for the first three months of the current year:

July

$$36,000$

August

$$24,000$

September

$$40,000$

In the month of the sale, $65$ percent of sales are collected, and the remainder is collected in the following month.

Accounts receivable balance $($January $1)$ $$22,800$

Cash balance $($January $1)30,000$

Minimum cash balance needed $20,000$

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?

$$28,200$

$$20,600$

$$20,200$

$$19,400$