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) $67,000 $17,000 Credit sales Cash sales (Budgeted) $147,000 $ 32,000 (Budgeted) $162,000 $ 37,000 (Budgeted) $117,000 $ 19,000 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 O $56,000. $41,540. $38,860. O $52,640