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Gregory Company has budgeted the following credit sales during the last four months of the year: September, $20,000; October, $21,000; November $24,000; December, $30,000. Experience

Gregory Company has budgeted the following credit sales during the last four months of the year: September, $20,000; October, $21,000; November $24,000; December, $30,000. Experience has shown that payment for the credit sales is received as follows: 40% in the month of sale, 50% in the first month after sale, 5% in the second month after sale, and 5% uncollectible. How much cash can Gregory Company expect to collect in November as a result of credit sales? A. $22,600 B. $21,100 C. $20,100 D. $11,500

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