Farmerlands Inc.has budgeted sales for the months of September and October at $300,000 and $280,000,respectively.Monthly sales are 80% credit and 20% cash.Of the credit sales,50% are collected in the month of sale and 50% are collected in the following month.Calculate cash collections for the month of October.

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The Answer of Farmerlands Inc.has budgeted sales for the months of September and October at $300,000 and $280,000,respectively.Monthly sales are 80% credit and 20% cash.Of the credit sales,50% are collected in the month of sale and 50% are collected in the following month.Calculate cash collections for the month of October.