Shadow company has the following projected unit sales for the fourth quarter.

Months Units

October 10,000

November. 25,000

December 26,000

The budgeted sales price is $24 per unit. Historically, around 14% of sales are in cash, the rest are on account so, collected after the time of sale. 26% of sales on account are collected in the month of sale. 39% of sales on account are collected in the month after the sale. The remaining amount of sales on account are collected two months after the sale. What would be the budgeted amount of accounts receivable at the end of December?

Please answer with step by step solutions, this subject makes no sense to me

Is the answer $577,714 or $52,550?