Meredith Company has completed its sales budget for the first quarter of 2014. Projected credit sales for the first four months of the year are shown below: January $37,000 February $43,000 March $52,000 April $55,000 The company's past records show collection of credit sales as follows: 37% in the month of sale and the balance in the following month. The total cash collection from receivables in March is expected to be: