Concord Corporation reported the following information for 2019:

	October	November	December
Budgeted sales	$480000	$420000	$520000
Budgeted purchases	$300000	$236000	$278000

• All sales are on credit.
• Customer amounts on account are collected 50% in the month of sale and 50% in the following month.
• Cost of goods sold is 35% of sales.
• Concord purchases and pays for merchandise 60% in the month of acquisition and 40% in the following month.
• Accounts payable is used only for inventory acquisitions.

How much cash will Concord receive during November?

$470000

$420000

$450000

$210000