Data for a large merchandiser, is below: Sales are budgeted at $299,000 for November, $319,000 for December, and $219,000 for January. Collections are expected to be 65% in the month of sale and 35% in the month following the sale. The cost of goods sold is 80% of sales. . Yipuum375 desires to have an ending merchandise inventory at the end of each month equal to 70% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are $22,000. Monthly depreciation is $25,500. Ignore taxes. Assets Balance Sheet October 31 Cash $ Accounts receivable Merchandise inventory 32,500 81,500 185,900 Property, plant and equipment, net of $624,000 accumulated 1,013,000 depreciation Total assets $1,312,900 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity Q) What are the expected cash collections for mors in December? Multiple Choice $207,350 $319,000 $104,650 $312,000 $ 248,000 749,000 315,900 $1,312,900