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

• Sales are budgeted at $250,000 for November, $230,000 for December, and $220,000 for January.
• Collections are expected to be 60% in the month of sale and 40% in the month following the sale.
• The cost of goods sold is 75% of sales.
• The company would like to maintain ending merchandise inventories equal to 65% 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 $23,100.
• Monthly depreciation is $14,100.
• Ignore taxes.

Balance Sheet

October 31AssetsCash$20,000Accounts receivable70,000Merchandise inventory153,000Property, plant and equipment, net of $572,000 accumulated depreciation1,094,000Total assets$1,337,000Liabilities and Stockholders' EquityAccounts payable$254,000Common stock820,000Retained earnings263,000Total liabilities and stockholders' equity$1,337,000

Expected cash collections in December are: