1. Gold Corporation has the following sales budget for the last six months of2022:

July

$200,000

August

160,000

September

220,000

October

180,000

November

200,000

December

188,000

60 percent of sales is collected in the month of sale.

30 percent of sales is collected in the month following the sale.

8 percent of sales is collected in the second month following the sale.

2 percent of sales is uncollectible.

What is the ending balance of accounts receivable at the end of September assuming uncollectible balance is written off in the third month after the sale?

Please show computation and explain. Thanks