Answer:
$1,420,000
Explanation:
Total sales of October = $1,300,000. Collected in November = (60% of 1,300,000) = $780,000
November sales = $1,600,000. 40% sales of November = $640,000
Total cash collection = $780,000 + $760,000
Total cash collection = $1,420,000
So, the cash that Pinewood will receive in November is $1,420,000.
