Kingston anticipates total sales for June and July of $500,000 and $298,000, respectively. Cash sales are normally 70% of total sales. Of the credit sales, 20% are collected in the same month as the sale, 65% 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.

			As of July 31
Sales month	Total Sales	Credit Sales	Percent Still Uncollected	Amount Uncollected
June	$500,000
July	298,000
Total