Oakton Furniture provided the following information relevant to its sales for December Year 1 and the…

Oakton Furniture provided the following information relevant to its sales for December Year 1 and the first quarter of Year 2: Dec. Year Jan. Year 2 Feb. Year 2 Mar. Year 2 Credit sales Cash sales (Actual) $66,000 $16,000 (Budgeted) $146,000 $ 31,000 (Budgeted) $161,000 $ 36,000 (Budgeted) $116,000 $ 18,000 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. Total budgeted cash receipts in February are expected to be: Multiple Choice _ $54.000. _ S51,540. _ S188,300. _ S40.260.