The budget director of Heathers Florist has prepared the following sales budget. The company had $370,000 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.

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

	July	August	September
Sales Budget
Cash sales	$78,000	$72,000	$72,000
Sales on account	84,000	104,000	131,600
Total budgeted sales	$162,000	$176,000	$203,600
Schedule of Cash Receipts
Current cash sales	$78,000	$72,000	$72,000
Plus: Collections from accounts receivable	370,000
Total budgeted collections	$448,000	$156,000	$176,000

Accounts receivable: