Memphis Company anticipates total sales for April, May, and June of $870,000, $970,000, and $1,020,000 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 companys budgeted balance sheet for June 30.