Question 24 3 pts Bertie Botts Ltd. produces designer sweets. Most of its sales are concentrated around holidays such as Valentine's Day, and Christmas. A sales budget is given below for Every Flavor Beans, one of the products that Bertie Botts purchases from a subcontractor. July August September Expected sales in dollars $540,000 $620,000 $360,000 20% of total sales are cash sales, and the rest are sales on credit. 60% of all credit sales for any given month is collected in the month of sale. 40% of credit sales are collected in the following month. The gross profit rate for Every Flavor Beans has generally been 45%. At the end of each month, Bertie Botts wants to maintain an inventory balance equal to 30% of the following month's expected sales in units. Determine the accounts receivable balance at the end of August