Question 48 --/1 View Policies Current Attempt in Progress Concord Corporation reported the following information for 2019: October November December Budgeted sales $480000 $420000 $520000 Budgeted purchases $300000 $236000 $278000 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. Concord 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 Concord receive during November? O $210000 O $450000 O $420000 O $470000