Kingston budgets total sales for June and July of $370,000 and $358,000, respectively. Cash sales are 60% of total sales. Of the credit sales, 20% are collected in the month of sale, 70% are collected during the first month after the sale, and the remaining 10% are collected in the second month after the sale. Determine the amount of accounts receivable reported on the company's budgeted balance sheet as of July 31. Hint: Determine the percent of June and July sales that are uncollected at July 31. Answer is complete but not entirely correct. June July Total As of July 31 Sales month Total Sales Credit Sales Percent Uncollected Amount Uncollected $ 370,000 $ 148,000 15% x $ 22,200 x 358,000 143,200 80% 114,560 $ 136,760