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Memphis Company anticipates total sales for April, May, and June of $ 8 4 0 , 0 0 0 , $ 9 4 0 ,

Memphis Company anticipates total sales for April, May, and June of $840,000, $940,000, and $990,000 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 after the sale. Compute the amount of accounts receivable reported on the companys budgeted balance sheet for June 30.

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