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 38,000 January February $44,00 March April $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