Oakton Furniture provided the following information relevant to its sales for December Year 1 and the first quarter of Year 2: Jan. Year 2 Feb. Year 2 Mar. Year 2 Dec. Year 1 (Actual) $70,000 $20,000 Credit sales Cash sales (Budgeted) $150,000 $ 35,000 (Budgeted) $165,000 $ 40,000 (Budgeted) $120,000 $ 22,000 Based on the company's collection history, 42% of credit sales are collected in month of sale and the remainder is collected in the following month. Total budgeted cash receipts in February are expected to be: Multiple Choice $62,000. $60,200. $196,300. $45,500