Thomas & Cooke Corporation has the following sales forecasts for the first three months of the current years Month January February March Sales $39,000 26,000 45,000 85% of sales are collected in the month of the sale and the remainder is collected in the following month Accounts receivable balance January 1) $25,800 Cash balance (January 1) 25,000 Minimum cash balance needed 22,000 What is the cash balance at the end of January, assuming that cash is received only from customers and that $50,000 is paid out during January? O $39,400 Ob. $33,950 O . 521.000 Od $20,600