Information pertaining to Collection Corporation's sales revenue is presented below: Cash sales Credit sales Total sales November $ 96,000 288,000 $ 384,000 December $ 125,000 450,000 $ 575,000 January $ 78,000 234,000 $ 312,000 Management estimates that 4% of credit sales are eventually uncollectible. Of the collectible credit sales, 65% are likely to be collected in t sale and the remainder in the month following the month of sale. The company desires to begin each month with an inventory equal to 75% projected for the month. All purchases of inventory are on open account; 30% will be paid in the month of purchase, and the remainder pai following the month of purchase. Purchase costs are approximately 60% of the selling prices. Budgeted cash payments in November for November inventory purchases by Collection Corporation are: Multiple Choice $221,445. O $94,905. $161.289