Markham Company has completed its sales budget for the first quarter of Year 2. Projected credit sales for the first four months of the year are shown below: January$38,000? February$44,000? March$53,000? April$56,000? The company's past records show collection of credit sales as follows: 38% in the month of sale and the balance in the following month. The total cash collection from receivables in March is expected to be:
A. $49,580.
B. $40,280.
C. $53,000.
D. $47,420.
Answer: D
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