Saved Help Save & Ext Submit Oakton Furniture provided the following information relevant to its sales for December Year 1 and the first quarter of Year 2 Credit sales Cash sales Dec. Year 1 (Actual) $60,000 $10,000 Jan. Year 2 (Budgeted) $140,000 $ 25,000 Feb. Year 2 (Budgeted) $155,000 $ 39,800 Mar. Year 2 (Budgeted) $110,000 $ 12,000 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 $36.000 $34,800 Multiple Choice $36,000 $34,800. $42,000 $40,600