Assume a company is preparing a budget for its last quarter of operations. During the quarter, it expects $32,000 in credit sales for the first month, $36,000 for the second month and $38,000 for the third month. The company expects to collect 70% of its credit sales in the month of the sale and the remaining 30% in the following month. Accounts receivable from the prior quarter was budgeted for $8,000. What amount of accounts receivable would the company report on its budgeted balance sheet at the end of this last quarter?

Group of answer choices

$11,400

$19,400

$10,800

$18,800