6) Kelita, Inc., projects sales for its first three months of operation as follows: October November December Credit sales $100,000 $150,000 $200,000 Cash sales 40,000 60,000 50,000 Total Sales $140,000 $210,000 $250,000 Inventory on October 1 is $40,000. Subsequent beginning inventories should be 40% of that month's cost of goods sold. Goods are priced at 140% of their cost. 50% of purchases are paid for in the month of purchase; the balance is paid in the following month. It is expected that 50% of credit sales will be collected in the month following sale, 30% in the second month following the sale, and the balance the third month. A 5% discount is given if payment is received in the month following sale. (Appendix 10A) What are the anticipated cash receipts for November? *a) $107,500 b) $105,000 c) $110,000 d) $160,000