The sales budget of Mulls Company for the fourth quarter of 2009 is as follows: October November December Sales $96,000 $72,000 $108,000 Sales are 20% cash, 80% credit. Cost of goods sold is 70% of total sales. Desired ending inventory for each month is equal to 25% of cost of goods sold for the following month. Collections on credit sales are as follows: 50% in the month of sale 30% in the month following sale 15% in the second month following sale 5% uncollectible October 1 inventory is $16,000. Expected sales for January 2010, are $84,000. Payments for inventory are 70% in the month following purchase and 30% two months following purchase. Compute the cash collections for December, 2009