HAM Company has budgeted sales for the next six months as follows: March April May June July August Budgeted Sales $224,000 $209,000 $276,000 $231,000 $198,000 $243,000 20% of the company's sales are cash sales and 89% of the company's sales are made on account. On average, 36% of the sales on account are collected in the month of sale, 27% is collected in the month following sale, 22% is collected in the second month following sale, and the remaining 15% is collected three months after the month of sale. The budgeted accounts receivable balance at August 31 is equal to: $232,326 $192,874 $263.430 $115,056 $235,128 $186,528 $210,744 none of the above choices are correct