Kam Department Store Reported the Following Information for 2016 $\begin{array}{lr}&\text { October }&\text { November }&\text { December }\\\text { Budgeted sales }&\$1,240,000&\$1,160,000&\$1,440,000\end{array}$

Multiple Choice

Kam Department Store reported the following information for 2016: $\begin{array}{lr}&\text { October }&\text { November }&\text { December }\\\text { Budgeted sales }&\$1,240,000&\$1,160,000&\$1,440,000\end{array}$
-All sales are on credit.
-Customer amounts on account are collected 50% in the month of sale and 50% in the following month.
How much cash will Kam receive in November?

A) $580,000
B) $1,300,000
C) $1,200,000
D) $1,160,000