Oak Furniture provided the following information relevant to its sales for December 2013 and the...
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Accounting
Oak Furniture provided the following information relevant to its sales for December 2013 and the first quarter of 2014:
| Dec. 2013 | Jan. 2014 | Feb. 2014 | March 2014 | |
| (Actual) | (Budgeted) | (Budgeted) | (Budgeted) | |
| Credit sales | $64,000 | $144,000 | $159,000 | $114,000 |
| Cash sales | $14,000 | $ 29,000 | $ 34,000 | $ 16,000 |
Based on the company's collection history, 6% of credit sales are uncollectible, 44% are collected in month of sale and the remainder collected in the following month. Cash collections in January from December 2013 credit sales would be:
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