Thomas & Cooke Corporation has the following sales forecasts for the first three months of the current year:

Month	Sales
January	$40,000
February	26,000
March	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)	$30,800
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 $40,000 is paid out during January?