ClassQuestI Corporation, a company located in Tacoma, WA, had the following sales.

SEP

OCT

NOV

DEC

JAN

FEB

Total Sales

$120,000

$100,000

$90,000

$150,000

$120,000

$80,000

10% of all sales are cash sales. The rest are credit sales. Credit sales are collected as follows: 20% in the month of sale, 70% in the month following sale, and 10% in the second month following sale.

Required:Calculate the Accounts Receivable balance as at December 31st