Romona Company expects its November sales to be 20% higher than its October sales of $165,000. All sales are on credit and are collected as follows:

38% in the month of the sale and

60% in the following month.

Purchases were $110,000 in October and are expected to be $140,000 in November.

Purchases are paid 40% in the month of purchase and 60% in the following month.

The cash balance on November 1 is $13,500. The cash balance on November 30 will be?

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