Answer the Following Questions Using the Information Below:
Finmin Company

Multiple Choice

Answer the following questions using the information below:
Finmin Company has the following sales budget for the last six months of 2015:
$\begin{array}{lrlr}\text { July } & \$ 200,000 & \text { October } & \$ 180,000 \\\text { August } & 160,000 & \text { November } & 200,000 \\\text { September } & 200,000 & \text { December } & 180,000\end{array}$ Sales are immediately due, however the cash collection of sales, historically, has been as follows:
65% of sales collected in the month of sale,
25% of sales collected in the month following the sale,
8% of sales collected in the second month following the sale, and
2% of sales are uncollectible.
-Cash collections for October are ________.

A) $117,000
B) $179,800
C) $194,000
D) $176,400