Omaha Furniture Mart has the following information:

Month

Budgeted Sales

June

$68,000

July

72,000

August

80,000

September

76,000

October

80,000

The cost of merchandise sold is 60% of sales and the desired ending inventory level is 25% of next month's cost of merchandise sold.

All sales are on credit.70% of sales is collected in the month of sale and the remaining 30% in the next month.The budgeted collections for the month of October is

$77,200

$76,000

$77,600

$73,600

$80,000

$78,800