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) $59,000 $10,000 Credit sales Cash sales (Budgeted) $ 139,000 $ 24,000 (Budgeted) $ 154,000 $ 29,000 (Budgeted) $ 109,000 $ 11,000 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 $37,930. $34,220. $40,000 5,400