East Company budgeted the following credit sales during the current year: August $100,000 September, $110,000; October, $120,000; November, $85,000; December, $100,000. Experience has shown that cash from credit sales is received as follows: 25% in the month of sale, (All collections in the month of sale are subject to 2 percent cash discount.) 60% in the first month after sale, 12% in the second month after sale, and 3% is uncollectible. Required: How much total cash can East Company expect to collect in October?

East Company budgeted the following credit sales during the current year: August $100,000 September, $110,000; October, $120,000; November, $85,000; December, $100,000. Experience has shown that cash from credit sales is received as follows: 25% in the month of sale, (All collections in the month of sale are subject to 2 percent cash discount.) 60% in the first month after sale, 12% in the second month after sale, and 3% is uncollectible. Required: How much total cash can East Company expect to collect in October