The budget director of Heathers Florist has prepared the following sales budget. The company had $390,000 in accounts receivable on July 1. Heathers Florist normally collects 100 percent of accounts receivable in the month following the month of sale.

Required

1. Complete the schedule of cash receipts by filling in the missing amounts.

2. Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet.

Required A Required B Complete the schedule of cash receipts by filling in the missing amounts. July August September Sales Budget Cash sales Sales on account Total budgeted sales 77,000 84,000 77,000 $ 89,000 99,000 131,600 $ 208,600 $ 166,000 183,000 Schedule of Cash Receipts Current cash sales Plus: Collections from accounts receivable Total budgeted collections $173,000 467,000 176,000