Data for RelyaTech, a large merchandiser, is below; - Sales are budgeted at $300,000 for November, $320,000 for December, and $220,000 for January. - Collections are expected to be 70% in the month of sale and 30% in the month following the sale. - The cost of goods sold is 75% of sales. - RelyaTech desires to have an ending merchandise inventory at the end of each month equal to 80% 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 $22,100. - Monthly depreciation is $26,000. - Ignore taxes. - (ID 78786) Q) What are the expected cash collections for RelyaTech in December? Multiple Choice $90,000 $314,000 $224,000 $320,000