McDavid Company has completed its sales budget for the first quarter of next year. Projected credit sales for the first four months of the next year are shown below: January $30,000 February $36,000 March $45,000 April $48,000 The company's past records show collection of credit sales as follows: 30% in the month of sale and 70% in the following month. a. $42,300 b. $38,700 c. $45,000 d. $31,800