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Kingston budgets total sales for June and July of $ 3 5 0 , 0 0 0 and $ 4 3 8 , 0 0

Kingston budgets total sales for June and July of $350,000 and $438,000, respectively. Cash sales are 65% of total sales. Of the credit sales, 25% are collected in the month of sale, 60% 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. Hint: Determine the percent of June and July sales that are uncollected at July 31.Kingston budgets total sales for June and July of $350,000 and $438,000, respectively. Cash sales are 65% of total sales. Of the credit sales, 25% are collected in the month of sale, 60% are collected during the first month after the sale, and the remaining 15% are collected in the second month after the sale. Determine the amount of accounts receivable reported on the company's budgeted balance sheet as of July 31. Hint: Determine the percent of June and July sales that are uncollected at July 31.
\table[[Sales month,Total Sales,Credit Sales,As of July 31],[\table[[Percent],[Uncollected]],\table[[Amount],[Uncollected]]],[June,$,350,000,,,],[July,,438,000,,,],[Total,,,,,]]
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