Kingston anticipates total sales for June and July of $510,000 and $448,000, respectively. Cash sales are normally 70% of total sales. Of the credit sales, 15% are collected in the same month as the sale, 60% are collected during the first month after the sale, and the remaining 25% 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 3

Sales month June July Total $ Total Sales 510,000 448,000 Credit Sales As of July 31 Percent Still Uncollected Amount Uncollected