The company had $200,000 in accounts receivable on July 1. The company normally collects all of the accounts receivable in the month following the month of sale.

sales budget	july	August	september
cash sale	$160,000	$180,000	$200,000
sales on account	$240,000	$260,000	$300,000
total budgeted sales	$400,000	$440,000	$500,000

Schedule of Cash Receipts
Current cash sales
Plus: Collections from accounts receivable
Total budgeted collections
a. Complete the table
b. Determine the amount of accounts receivable the company will report
on its third quarter pro forma balance sheet