On October 1 of the current year, Malone Corporation prepared a cash budget for October, November, and December. All of Malone's sales are made on account. The following information was used in preparing estimated cash collections:

August sales (actual)	$	36,000
September sales (actual)	$	46,000
October sales (estimated)	$	23,000
November sales (estimated)	$	66,000
December sales (estimated)	$	56,000

Approximately 70% of all sales are collected in the month of the sale, 25% is collected in the following month, and 5% is collected in the month thereafter.

Budgeted collections from customers in November total:

Multiple Choice

• $135,000.

• $54,250.

• $51,950.

• $58,850.