Spicer \& Co has budgeted its credit sales as follows: Collections of credit sales are normally as follows 50% The cash balance on 1st October is expected to be $200,000 Cash payments are expected to total $800,000 each month for July to November The cash balance at the end of October is expected to be $1,160,000$1,400,000 none of the options $330,000$960,000