Data for Yipuum375, a large merchandiser, is below: Sales are budgeted at $306,000 for November, $326,000 for December, and $226,000 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. Yipuum375 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 $22,700. Monthly depreciation is $29,000. . Ignore taxes. (ID#32143) Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $624,000 accumulated depreciation Total assets $ 34,500 85,000 289,900 921,000. $1,330,400 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity What are the expected cash collections for Yipuum375 in December? $ 255,000 756,000 319,400 $1,330,400 Q) What are the expected cash collections for Yipuum375 In December? Multiple Choice $228,200 $326,000 $320,000 $91,800