Oakton Furniture provided the following information relevant to its sales for December Year 1 and the first quarter of Year 2: Dec. Year Jan. Year 2 Feb Year 2 Mar. Year? Credit sales Cash sales (Actual) $56,000 $13,000 (Budgeted) $136,000 $ 21,000 (Budgeted) $151,000 $226,000 (Budgeted $196,000 38,000 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 Cash collections in January from December credit sales would be: Multiple Choice $34.000 Multiple Choice $34,000. $32,480 O $31,920 $29,860