Asian Lamp Company manufactures lamps. The estimated number of lamp sales for the last three months for the current year are as follows: Month Sales October 10,000 November 14,000 December 13,000 Finished goods inventory at the end of September was 3,000 units. Ending finished goods inventory is budgeted to equal 25 percent of the next month's sales. Asian Lamp expects to sell the lamps for $25 each. January sales is projected at 16,000 lamps. What the expected sales revenue for December? a. $350,000 Ob. $100,000 Oc. $250,000 Od. $325,000 Mikhail Corporation has the following sales forecasts for the first three months of 2018: Month Sales January $36,000 February 24,000 March 40,000 Sixty-five percent of sales are collected in the month of the sale and the remainder are collected in the following month. Mikhail will borrow from its bank to maintain its minimum cash balance. Accounts receivable balance (January 1, 2018) $16,000 Cash balance (January 1, 2018) 12,000 Minimum cash balance needed 20,000 What is the cash balance at the end of January, assuming that cash is received only from customers and that $48,000 is paid out during January? a. $20,000 Ob. $19,400 c. $21,000 Od. $23,400