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Markham Company has completed its sales budget for the first quarter of Year 2. Projected credit sales for the first four months of the year are shown below January February March April $29,000 $35,000 $44,000 $47.000 The company's past records show collection of credit soles as follows: 40% in the month of sale and the balance in the following month. The total cash collection from receivables in March is expected to be Multiple Choice $44,000 $30,740 $38.600