27) Corbin Company has prepared the following sales budget:

Month Cash Sales Credit Sales

September $99,000 $250,000

October 225,000 180,000

November 310,000 210,000

December 94,000 170,000

Collections of credit sales are 50% in the month of sale, 40% in the month following sale, and 10% two months following sale. No uncollectible accounts are expected. What is the expected balance in Accounts Receivable at November 30?

A) $77,500

B) $105,000

C) $123,000 this is the correct answer. Please explain every step of how to get accts receivable

D) $210,000