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ACE Company has budgeted the following credit sales during the last four months of the year: September, $ 1 3 , 0 0 0 ;

ACE Company has budgeted the following credit sales during the last four months of the year: September, $13,000; October, $19,000; November $20,000; December, $24,000.
Experience has shown that payment for the credit sales is received as follows:
10% in the month of sale,
60% in the first month after sale,
20% in the second month after sale,
and 10% uncollectible.
How much cash can the company expect to collect in November as a result of credit sales?
$14,000
$16,000
$11,400
$13,400
$12,000
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