The Jaylen Brown Company Company has the following budgeted sales: April May June July Credit Sales 320, 000 300,000 3 50, 000 400,000 Cash Sales 70.000 80,000 90,000 70,000 The regular pattem of collection of credit sales is 30% in the month of sale, 60% in the month following the month of sale, and the remainder in the second month following the month of sale. There are no bad debts. The budgeted accounts receivable balance on May 31 would be: 0 $210,000 0 $212,000 0 $242,000 0 $180,000 The Amos Corporation reported the following income statement and balance sheet amounts and additional information for the end of the current year. End of prior End of current year year Net sales revenue (all credit) $1 ,420,00I Cost of goods sold $925,00I I $495,00- Selling/general expenses $280,00I Interest expense $42,00I $173,00I $1 1 5,00 I -term assets $51 0,00I otal assets $625,00I $59.00- $273,00 I Long-term liabilities Common stockholders eqUIty Current liabilities $293,00 I otal liabilities and stockholders' equity $625,00I Inventory and prepaid expenses account for $30,000 of the current year's current assets. Average inventory for the current year is $36,250. Average net accounts receivable for the current year is $45,000. There are 35,000 shares of common stock outstanding. Total dividends paid during the current year were $17,000. The market price per share of common stock is $20. The Jaylen Brow-n Company Company has the following budgeted sales: April May June July Credit Sales 320.000 300,000 350' 000 400,000 Cash Sales 70' (mo 80,000 90, 000 70,000 The regular pattern of collection of credit sales is 30% in the month of sale, 60% in the month following the month of sale, and the remainder in the second month following the month of sale. There are no bad debts. The budgeted Cash Receipts for July would be: 0 $430,000 0 $435,000 0 $400,000 0 $390,000