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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

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) $ 50,000
September sales (actual) $ 60,000
October sales (estimated) $ 30,000
November sales (estimated) $ 80,000
December sales (estimated) $ 70,000

Approximately 65% of all sales are collected in the month of the sale, 20% is collected in the following month, and 15% is collected in the month thereafter.

Budgeted collections from customers in October total:

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