Oakton Furniture provided the following information relevant to its sales for December Year 1 and the first quarter of Year 2: Dec. Year 1 (Actual) $65,000 $15,000 Jan. Year 2 (Budgeted) $145,000 $ 30,000 Feb. Year 2 (Budgeted) $160,000 $ 35,000 Credit sales Cash sales Mar. Year 2 (Budgeted) $115,000 $ 17,000 Based on the company's collection history, 47% 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 $34,450 O $52,000 O $50,400 O O $35,750