16. Kam Department Store reported the following information for 2016:October November December Budgeted Sales $1,240,000 $1,160,000 $1,440,000 All sales are on credit. Customer amounts on account are collected 50% in the month of sale and 50% in the following month. How much cash will Kam receive in November? a) $580,000. b) $1,300,000. c) $1,200,000. d) $1,160,000.

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