Budgeted sales at GLOBAL MANU over the next four months are given below:

September	$140,000
October	$150,000
November	$170,000
December	$130,000

The company estimates that 35% of the sales are for cash, and 65% on credit. Collections for sales on account follow a stable pattern as follows: 50% will be collected in the month of the sale, 30% in the month following the sale, 15% in the second month following the sale, and the rest uncollectible. What would be the expected cash receipts for December?

1)

$338,000

2)

$184,000

3)

$135,525

4)

$87,750