HeatCorporation has budgeted for the following sales:

July$449,000August$584,000September$617,000October$892,000November$750,000December$710,000

Sales are collected as follows: 15% in the month of sale; 65% in the month following the sale; and the remaining 20% in the second month following the sale. In Heat's budgeted balance sheet at December 31, at what amount will accounts receivable be shown?

Multiple Choice

• $753,500
• $150,000
• $710,000
• $603,500