Ross Corporation makes all sales on account. The June 30th balance sheet balance in its accounts receivable is $310,000, of which $250,000 pertain to sales that were made during June. Budgeted sales for July are $1,160,000. Ross collects 80% of sales in the month of sale; 10% in the following month; and the final 10% in the second month after the sale.

What is the budgeted balance of Ross's accounts receivable as of July 31?

• $357,000
• $1,178,000
• $959,000
• $1,013,000