Data for Yipuum455, a large merchandiser, is below: Sales are budgeted at $248,000 for November, $288,000 for December, and $220,000 for January. Collections are expected to be 60% in the month of sale and 40% in the month following the sale. The cost of goods sold is 75% of sales. Yipuum455 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 $17,500. Monthly depreciation is $20,000. lanore taxes. Assets Balance Sheet October 31 Cash $ 20,000 Accounts receivable 79,500 Merchandise inventory 227,400 Property, plant and equipment, net of $624,000 accumulated 976,000 depreciation Total assets $1,302,900 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity Q: What are the expected cash collections for Yipuum455 in December? $ 244,000 745,000 313,900 $1,302,900 Q: What are the expected cash collections for Yipuum455 in December? Multiple Choice $272,000 $288,000 $172,800 $99,200