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QS 2 2 - 2 2 ( Algo ) Computing budgeted accounts receivable LO P 2 Kingston budgets total sales for June and July of

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QS 22-22(Algo) Computing budgeted accounts receivable LO P2
Kingston budgets total sales for June and July of $370,000 and $328,000, respectively. Cash sales are 60% of total sales. Of the credit sales, 20% are collected in the month of sale, 65% are collected during the first month after the sale, and the remaining 15% are collected in the second month after the sale. Determine the amount of accounts receivable reported on the company's budgeted balance sheet as of July 31. Hint: Determine the percent of June and July sales that are uncollected at July 31.
Answer is complete but not entirely correct.
\table[[Sales month,Total Sales,Credit Sales,As of July 31],[\table[[Percent],[Uncollected]],\table[[Amount],[Uncollected]]],[June,$,370,000,$,222,000\times ,15%,33,300\times ],[July,,328,000,,196,800\times ,80%,157,440\times ],[Total,,,,,,190,740]]
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