Markham Company has completed its sales budget for the first quarter of Year 2 Projected credit sales for the first four months of the year are shown below January February March April $38.000 $44,000 $53,000 $56,000 The company's past records show collection of credit sales as follows: 38% in the month of sale and the balance in the following month. The total cash collection from receivables in March is expected to be: Multiple Choice $53,000 O $40,280 $49,580