The records of Morgantown, Inc .show the following forecasted sales: Month Sales September $400,000 October 500,000 November 300,000 December 200,000 Collection pattern: 60 percent in month of sale 40 percent in month following the sale Accounts receivable as of August 31 $70,000 Finished goods inventory as of August 31 8,000 units The company has a selling price of $10 per unit and expects to maintain ending inventories equal to 20 percent of next month's sales. 3. Refer to Figure 8-6. How many dollars are expected to be collected in October? a. $420,000 b. $460,000 0. $240,000 a, $51 nnnn