Lakewood Jet Skis has budgeted sales for June and July at $410,000 and $500,000, respectively. Sales are 85% credit, of which 20% is collected in the month of the sale and 80% is collected in the following month. What is the accounts receivable balance on July 31? O A. $278,800 OB. $400,000 O C. $425,000 OD. $340,000