Chelsea Company reported the following information for 2008: October November December Budgeted sales $300,000 $320,000 $360,000 Budgeted purchases $120,000 $128,000 $144,000 All sales are on credit. Customer amounts on account are collected 60% in the month of sale and 40% in the following month. Instructions: Compute the amount of cash Salem will receive during November. Show your work.