The following information pertains to the October operating budget for Flockhart Corporation . Budgeted sales for October $100,000 and November $200,000 Collections for sales are 60% in the month of sale and 40% the next month. Gross margin is 30% of sales. Administrative costs are $10,000 each month. . Beginning accounts receivable (October 1) $20,000 Beginning inventory (October 1) $14,000 Beginning accounts payable (October 1) 560,000. (All from inventory purchases.) Purchases are paid in full the foliowing month . Desired ending inventory is 20% of next month's cost of goods sold (COGS) . No loans are outstanding on October 1 For October, budgeted cash coliections are O A. $80.000 O B. $80,000 OC. $20 000 0 D. None of the above is correct