A company is working on their budgets for the year 2021. The table below has a few of their expectations for 2021. Accounts Receivable on January 1 Sales in January Sales in February Sales in March Sales in April $35,221 $50,735 $54,654 $58,517 $59,497 Historically, this company's collection pattern for sales has been 16% as cash sales and 84% on account. The sales on account get collected 75% one month following the sale and the remainder two months following the sale. The Accounts Receivable on January 1 is the result of credit sales in December 2020 and thus is expected to be collected according to the sales on account pattern (75%/25%). How much should this company expect in Cash Collections for the month of January? (round to the nearest whole dollar/input code 0)

Cash collection budget :— This budget is prepared to estimate the collection of accounts receivable from customers during the period. Total sales is the sum of cash sales and credit sales. Cash collection is the sum of cash sales and collection from credit sales.