Assume the following budgeted information for a merchandising company:

• Budgeted sales (all on credit) for November, December, and January are $259,000, $229,000, and $220,000, respectively.
• Cash collections of credit sales are expected to be 75% in the month of sale and 25% in the month following the sale.
• The cost of goods sold is always 65% of sales.
• Each month's ending inventory equals 20% of next month's cost of goods sold.
• 30% of each month's merchandise purchases are paid in the current month and the remainder is paid in the following month.
• Monthly selling and administrative expenses that are paid in cash in the month incurred total $30,500.
• Monthly depreciation expense is $30,000.

The expected cash collections from customers in December are: