Data for a large merchandiser, is below. Sales are budgeted at $281,000 for November, $321,000 for December, and $212,000 for January Collections are expected to be 75% in the month of sale and 25% in the month following the sale. The cost of goods sold is 75% of sales. desires to have an ending merchandise inventory at the end of each month equal to 90% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are $20,100. Monthly depreciation is $22,000. Ignore taxes Assets Cash Accounts receivable Merchandise inventory Balance Sheet October 31 Property, plant and equipment, net of $624,000 accumulated depreciation Total assets 29,000 78,000 182,400 1,006,000 $1,295,400 Assets Cash Accounts receivable Merchandise inventory Balance Sheet October 31 29,000 78,000 182,400 Property, plant and equipment, net of $624,000 accumulated depreciation Total assets 1,006,000 $1,295,400 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity (Q) What are the expected cash collections for n December? $ 241,000 742,000 312,400 $1,295,400 Help S