Diltex Farm Supply is located in a small town in the rural west. Data regarding the store's operations follow: Sales are budgeted at $220,000 for November, $200,000 for December, and $210,000 for January. Collections are expected to be 70% in the month of sale, 27% in the month following the sale, and 3% uncollectible. The cost of goods sold is 65% of sales. The company desires to have an ending merchandise inventory at the end of each month equal to 50% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. The inventory balance at the end of October was $71,500. Other monthly expenses to be paid in cash are $22,500. Monthly depreciation is $19,000. Ignore taxes.

Expected cash collections in December are:

Group of answer choices

$59,400

$140,000

$199,400

$200,000

None of the above