Kingston budgets total sales for June and July of $440,000 and $338,000, respectively. Cash sales are 65% of total sales. Of the credit sales, 20% are collected in the month of 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 company's budgeted balance sheet as of July 31. Hint: Determine the percent of June and July sales that are uncollected at July 31. Sales month Total Sales Credit Sales As of July 31 Percent Amount Uncollected Uncollected $ June July Total 440,000 338,000 118,300 80% 94,640