1. Dog Foods, Inc. has budgeted sales for June and July at $690,000 and $720,000, respectively. Sales are 90% credit, of which 70% is collected in the month of sale and 30% is collected in the following month. What is the budgeted Accounts Receivable balance on July 31?

Select one:

A.

$194,400

B.

$186,300

C.

$648,000

D.

$216,000