Question 8 7 pts PTA Corporation budgeted its sales for the next seven months as follows: May June July August September October November Budgeted Sales $391,600 $476,000 $424,000 5519,000 $463,000 $378,000 $527,000 10% of the company's sales are cash sales and 90% of the company's sales are made on account. On average, 24% of the sales on account are collected in the month of sale, 16% is collected in the month following sale, 43% is collected in the second month following sale, and the remaining 17% is collected three months after the month of sale. The budgeted accounts receivable balance at October 31 would be equal to: $563,027 $451,845 $653,310 $587,979 $313.020 $624,582 olololo $414,045 none of the above choices are correct