QUESTION# 4 On February 15^th you receive a report containing the actual Sales data for Poirier Corporation for the month of January and forecasted Sales data for the current month and the next 4 months - see below. Half of Poirier Corporation Sales are on account, and the collection schedule is 70% in the month of sale, and 30% the following month. They do not expect any amounts to be uncollectable. You must show all your work in order to receive all the points available.

January	February	March	April	May	June
$240,000	$100,000	$140,000	$120,000	$180,000	$200,000

Required:

The owner of Poirier Corporation wants you to prepare a schedule of expected Cash Receipts for the current month (February) and each of the next 4 months and a total column for the cash collected over the 5 -month period as at June 30.

What is the ending A/Receivable balance on June 30.