Assume a company is preparing a budget for its first two months of operations. During the first and second months it expects credit sales of $35,500 and $39,000, respectively. It also expects credit sales of $55,500 and $65,500, respectively. The company expects to collect 45% of its credit sales in the month of the sale, 50% in the following month, and 5% is deemed uncollectible. What amount of cash collections from credit sales would the company include in its cash budget for the second month?
