QS 20-22 Computing budgeted accounts receivable LO P2 Kingston anticipates total sales for June and July of $370,000 and $368,000, respectively. Cash sales are normally 70% of total sales. Of the credit sales, 15% are collected in the same month as the sale, 60% are collected during the first month after the sale, and the remaining 25% 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. & Answer is complete but not entirely correct. As of July 31 Percent Amount Still Sales month Total Sales Credit Sales Uncollected Uncollected $ $ June July Total 370,000 368,000 $ 148,000 X 147,200 25% 85% 277,500 55,200 332,700 $