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Any help would be greatly appreciated. Dilly Farm...

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Accounting

Any help would be greatly appreciated.
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Dilly Farm Supply is located in a small town in the rural west. Data regarding the store's operations follow: - Sales are budgeted at $306,000 for November, $326,000 for December, and $226,000 for January. - Collections are expected to be 70% in the month of sale and 30% in the month following the sale. - The cost of goods sold is 75% of sales. - The company desires to have an ending merchandise inventory at the end of each month equal to 80% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. - Other monthly expenses to be paid in cash are $22,700. - Monthly depreciation is $29,000. - Ignore taxes. Expected cash collections in December are: Multiple Choice $320,000 $326,000 $91,800 $228,200

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