Kingston anticipates total sales for June and July of $480,000 and $498,000, respectively. Cash sales are normally 70% of total sales. Of the credit sales, 25% are collected in the same month as the sale, 60% are collected during the first month after the sale, and the remaining 15% are collected in the second month after the sale. Determine the amount of accounts receivable reported on the companys budgeted balance sheet as of July 31.