Oakton Furniture provided the following information relevant to its sales for December Year 1 and the first quarter of Year 2: Dec. Year 1 Jan. Year 2 Feb. Year 2 Mar. Year 2 (Actual) (Budgeted) (Budgeted) (Budgeted) Credit sales $ 61,000 $ 141,000 $ 156,000 $ 111,000 Cash sales $ 11,000 $ 26,000 $ 31,000 $ 13,000 Based on the company's collection history, 44% 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: