Given below are the budgeted credit sales in dollars for 2016:

January - $410,000

February - $230,000

March - $260,000

April - $300,000

May - $500,000

June - $200,000

1) From past experience, the company expects that 20% of a month's credit sales will be collected in the month of sale, another 70% will be collected in the month following sale and the remaining 10% will be collected in the second month following sale. Bad debts are negligible. February sales totaled $230,000 and march sales totaled $260,000. What will the accounts receivable balance be on the balance sheet at June 30th?

2) What will the accounts receivable balance be on the balance sheet at June 1st?

*please show all work