The Budgeted Balance Sheet: TopOfTheWorld, Ltd. is a manufacturer that makes one product. It provided the following information to help prepare the master budget for the next four months of operations:

• The budgeted selling price per unit is $25. Budgeted unit sales for June, July, August, and September are 61,700; 62,900; 65,100; and 66,000 units, respectively. All sales are on credit.
• Regarding credit sales, 20% are collected in the month of the sale and 80% in the following month.
• The ending finished goods inventory equals 25% of the following month's sales.
• The ending raw materials inventory equals 20% of the following months raw materials production needs.
• Each unit of finished goods requires 12 ounces of raw materials. The raw materials cost $3.60 per ounce.
• Regarding raw materials purchases, 10% are paid for in the month of purchase and 90% in the following month.

Calculate the amount of the budgeted accounts receivable balance as of the end of August.