- Cash collections of credit sales are expected to be 75% in the month of sale and 25% in the month following the sale. - The cost of goods sold Is always 65% of sales. - Each month's ending inventory equals 15% of next month's cost of goods sold. - 40% of each month's merchandise purchases are paid in the current month and the remainder is paid in the following month. - Monthly selling and administrative expenses that are paid in cash in the month Incurred total $24,500. - Monthly depreclation expense is $24,000. The expected cash collections from customers in December are: Multiple Choice $245,750. $224,500. $239,043. - Cash collections of credit sales are expected to be 75% in the month of sale and 25% in the month following the sale. - The cost of goods sold Is always 65% of sales. - Each month's ending inventory equals 15% of next month's cost of goods sold. - 40% of each month's merchandise purchases are paid in the current month and the remainder is paid in the following month. - Monthly selling and administrative expenses that are paid in cash in the month Incurred total $24,500. - Monthly depreclation expense is $24,000. The expected cash collections from customers in December are: Multiple Choice $245,750. $224,500. $239,043