Wright Corporation began its operations on Sept. 1 of the current year. Forecasted sales for the first three months of business are $240,000, $300,000, and $420,000 respectively for Sept, Oct, and Nov. The company expects to sell 20% of those sales for cash and 80% on account. Of the sales on account, 70% are expected to collected in the month of the sale, 25% in the month following the sale, and 5% in the next month.
In November total cash collections will include which of the following?
1. $9,600 that was sold in September.
2. $60,000 that was sold in October.
3. November cash sales of $84,000
4. All of the above are expected to be part of November collections.