Memphis Company anticipates total sales for Aprii, May, and June of $880,000,$980,000, and $1,030,000 respectively, Cash sales are normally 25\% of total sales. Of the credit sales, 40% are collected in the same month as the sale, 55% are collected during the first month after the sale, and the remaining 5% are collected in the second month after the sale. Compute the amount of accounts receivable reported on the company's budgeted balance sheet for June 30 Mulliple Choice $624,000 $902,000 $463,500 $500,250 5970750