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Memphis Company anticipates total sales for Aprii, May, and June of $920,000,$1,020,000, and $1,070,000 respectively. Cash sales are normally 30% of total sales. Of the

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Memphis Company anticipates total sales for Aprii, May, and June of $920,000,$1,020,000, and $1,070,000 respectively. Cash sales are normally 30% of total sales. Of the credit sales, 30% are collected in the same month as the sale, 65% are collected during the first month after the sale, and the remaining 5% are collected in the second month after the sate. Compute the amount of accounts receivable reported on the company's budgeted balance sheet for June 30 . Multiple Choice $600,600 $938,800. $524,300. $560,000

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