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 $ 23,000 February $ 29,000 March $ 38,000 April $ 41,000 The company's past records show collection of credit sales as follows: 23% in the month of sale and the balance in the following month. The total cash collection from receivables in March is expected to