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 $31,000 February March April $37,000 $46,000 $49,000 The company's past records show collection of credit sales as follows: 40% 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 $43,210. $40,600. $32,860. $46,000.