(LO 7) Memphis Company anticipates total sales for April, May, and June of $960,000, $1,060,000, and $1,110,000 respectively. Cash sales are normally 20% of total sales. Of the credit sales, 35% are collected in the same month as the sale, 60% are collected during the first month after the sale, and the remaining 5 % are collected in the second month. Compute the amount of accounts receivable reported on the company's budgeted balance sheet for June 30 Multiple Cholce $719,200. $969,600 $577,200. $619,600 $1,041,600