Ross Corporation makes all sales on account. The June 30th balance sheet balance in its accounts receivable is $440,000, of which $260,000 pertain to sales that were made during June. Budgeted sales for July are $1,290,000. Ross collects 60% of sales in the month of sale; 15% in the following month; and the final 25% in the second month after the sale.

What are Ross's budgeted collections for July?

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