The budget director of Heathers Florist has prepared the following sales budget. The company had $50,000 in accounts receivable on July 1. Heathers Florist normally collects 100 percent of accounts receivable in the month following the month of sale.

Required

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

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

	July	August	September
Sales Budget
Cash sales	$40,000	$42,500	$45,000
Sales on account	45,000	54,000	64,800
Total budgeted sales	$85,000	$96,500	$109,800
Schedule of Cash Receipts
Current cash sales	$40,000	$42,500	$45,000
Plus: Collections from accounts receivable	50,000	45,000	54,000
Total budgeted collections	$90,000	$87,500	$99,000

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

Accounts receivable