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Kingston budgets total sales for June and July of $ 3 6 0 , 0 0 0 and $ 4 6 8 , 0 0

Kingston budgets total sales for June and July of $360,000 and $468,000, respectively. Cash sales are 70% of total sales. Of the credit sales, 25% are collected in the month of sale, 65% 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 companys budgeted balance sheet as of July 31. Hint: Determine the percent of June and July sales that are uncollected at July 31.

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