Ebony Company has forecast sales to be $306,000 in May, $381,000 in June, $481.000 in July and $606,000 in Auqust. Assume that 40% of sales ate made in cash, and the remainder is on account Credit sales are partilly collected in the month of sale, with all collections completed by the end of the month following th sale. The August 31 accounts recelvable is budgeted to be $109,080. What are the badgeted cast receipts for July? Multiple Choice $394,600 $270600 $463000 $420000