Carter Lumber sells lumber and general building supplies to building contractors in a medium-sized town in Montana. Data regarding the store's operations follow: o Sales are budgeted at $328,000 for November, $338,000 for December, and $348,000 for January. o Collections are expected to be 70% in the month of sale, 27% in the month following the sale, and 3% uncollectible. o The cost of goods sold is 60% of sales. o The company desires to have an ending merchandise inventory equal to 80% of the following month's cost of goods sold. Payment for merchandise is made in the month following the purchase. o Other monthly expenses to be paid in cash are $23,750. o Monthly depreciation is $25,800. o Ignore taxes.

Balance Sheet October 31
Assets
Cash	$ 22,900
Accounts receivable, net of allowance for uncollectible accounts	77,400
Inventory	218,000
Property, plant and equipment, net of $590,000 accumulated depreciation	1,180,000
Total assets	$1,498,300
Liabilities and Stockholders' Equity
Accounts payable	$ 243,000
Common stock	780,000
Retained earnings	475,300
Total liabilities and stockholders' equity	$1,498,300

The accounts receivable balance, net of uncollectible accounts, at the end of December would be:

$102,960

$91,260

$193,860

$74,660