Bloot's. Apply Difficulty: Hard Obective: Pl Prepare each component ofa master budget and ink each to the budgeting process 109 Kent Company anticipates total sales for April, May, and June of $800,000, $900,000, and $950,000 respectively. Cash sales are normally 25% of total sales. Of the credit sales, 30% are collected in the same month as the sale, 65% are collected during the first month after the sale, and the remaining 5% are collected in the second month. Compute the amount of accounts receivable reported on the company's budgeted balance sheet for luns 30. A. $561,500. B. $712,500. C. $463,125. D. $496,875. E. $617,500. 5% of May credit sales (5% x 75% x $900,000) 3,750 65% of June credit sales (65% x 75% x $950,000) 463.125 $496,875 Total accounts receivable 23-24