Bright Minds Toy Company prepared the following sales budget for the second quarter. Projected sales for each of the first three months of operations are as follows: Sales Budget Cash Sales Sales on Account Bright Minds expects to collect 70% of the sales on account in the month of sale, and 20% in the month following the sale, and the remainder in the second month following the sale. O $86,400 What is the ending accounts receivable balance that would be reported on the pro forma balance sheet prepared as of June 30? $121,500 April 30,000 370,000 400,000 O $164,700 June May 43,000 55,000 432,000 405,000 475,000 460,000 O $283,500

Bright Minds Toy Company prepared the following sales budget for the second quarter. Projected sales for each of the first three months of operations are as follows: Bright Minds expects to collect 70% of the sales on account in the month of sale, and 20% in the month following the sale, and the remainder in the second month following the sale. What is the ending accounts receivable balance that would be reported on the pro forma balance sheet prepared as of June 30 ? $86.400 $121,500 $164,700 $283,500