Assume that a company prepared the following sales budget: September October $600,000 $750,000 November December $800,000 $900,000 The following information is also available: Desired ending inventory is $20,000 plus 70% of the next month's cost of goods sold. Cost of goods sold averages 60% of sales. Purchases are paid 30% in the current month and 70% in the next month. Budgeted sales each month are 70% credit and 30% cash. . 40% of credit customers pay in the current month, 50% pay in the first month after the sale, and 10% pay in the second month after the sale. What is the balance in accounts receivable at the end of December? Multiple Choice $575,500 O $434,000 $486,500 O $ $620,000