Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow:

• Sales are budgeted at $420,000 for November, $400,000 for December, and $390,000 for January.
• Collections are expected to be 55% in the month of sale and 45% in the month following the sale.
• The cost of goods sold is 70% of sales.
• The company would like to maintain ending merchandise inventories equal to 60% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase.
• Other monthly expenses to be paid in cash are $24,800.
• Monthly depreciation is $15,800.
• Ignore taxes.

Balance Sheet October 31
Assets
Cash	$	20,800
Accounts receivable		70,800
Merchandise inventory		176,400
Property, plant and equipment, net of $572,800 accumulated depreciation		1,094,800
Total assets	$	1,362,800
Liabilities and Stockholders' Equity
Accounts payable	$	254,800
Common stock		820,800
Retained earnings		287,200
Total liabilities and stockholders' equity	$	1,362,800

Expected cash collections in December are: