Use the following information to answer questions 13 and 14: TopOne Hundred Company has the following budgeted sales for the last half of next year. July August..... September..... October...... November...... December... Cash Sales $50,000 $55,000 $45,000 $50,000 $60,000 $80,000 $150,000 $170,000 $130,000 $145,000 $200,000 $350,000 The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembledi Collections on credit sales: 50% in month of sale 30% in month following sale 20% in second month following sale #13. The total cash receipts during November would be (choose the closest answer): a) $236,500 b) $229,500 c) $169,500 dy$242,000 e) $324,500 #14. What is the budgeted accounts receivable balance on December 31 (choose the closest answer)? $215,000 b) $264,000 c) $125,000 d) $160,000 e) $100,000