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

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

Multiple Choice

• $58,000.
• $170,000.
• $68,500.
• $67,000.