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Stewart & Roberto, Inc. has projected sales to be $260,000 in June, $270,000 in July and $300,000 in August. The company expects to collect 25%

Stewart & Roberto, Inc. has projected sales to be $260,000 in June, $270,000 in July and $300,000 in August. The company expects to collect 25% of a month's sales in the month of sale, 60% in the month following the sale, and 15% in the second month following the sale. The budgeted Accounts Receivable balance, shown on the Balance Sheet, as of August 31st would be:

a. $40,500

b. $219,000

c. $237,000

d. $265,500

e. $340,500

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