Ocstedt Corporation produces and sells one product. Budgeted sales for July, August, and September are $150,000, $276,000 and $320,000, respectively. All sales are on credit with 40% expected to be collected in the month of the sale, 50% in the month after the sale and 10% in the second month after the sale.

The budgeted accounts receivable balance at the end of September is closest to:

	a.	$160,000
	b.	$219,600
	c.	$187,600
	d.	$192,000