Apple Inc. began its operations on September 1 of the current year. Budgeted sales for the first three months of business September.com November-are $260,000, $375,000, and $400,000, respectively. The company expects to sell 30% of its merchandise for cash. Of sales on 90% are expected to be collected in the month of the sale and 10% in the month following the sale. The cash collections expected in November from accounts receivable are estimated to be $294,500 $278,250 $246,400 $262,500