Calculate the amount of cash available at the end of October Company's collection experience for the past several months and credit sales analysis show the following: The company has no cash sales, only sales on account. Cash collection from current month's sales, terms 2/10 18% Cash collection from prior month's sales , no discount 65% Cash collection from sales two months ago, no discount 14% Uncollectible receivables The company has estimated credit sales for: June $500,000 July $450,000 August $400,000 September $300,000 October $360,000 November $400,000 Company's monthly variable costs paid as incurred equal 55% of monthly sales. Company's monthly fixed expenses are $70,000 (details: Rent: $10,000; Salaries: $40,000; Depreciation: $10,000; Advertising: $4,000; Depletion: $6,000). PREPARE a schedule showing cash collections during October llections CALCULATE cash balance as of October 31 assuming that company had $120,000 cash balance as of October 1: Cash balance, October 31