$8.$ A company reported the following information for $2019$:OctoberNovemberDecemberBudgeted sales$$460,000$$$440,000$$$540,000$Budgeted purchases$$240,000$$$256,000$$$288,000$ All sales are on credit. Customer amounts on account are collected $50\%$ in the month of sale and $50\%$ in the following month. Cost of goods sold is $35\%$ of sales. The company purchases and pays for merchandise $60\%$ in the month of acquisition and $40\%$ in the following month. Accounts payable is used only for inventory acquisitions.How much cash will the company receive during November?Answer:Show calculation below. No credit for just an answer.