Truman Ltd. collects cash from its customers as follows: 60% in the month of sale, 20% in the month after sale, and 20% in the second month after sale. Budgeted sales are all on credit and are forecasted to be:

May: $600,000

June: $700,000

July: $500,000

August: $600,000

What is the budgeted amount of accounts receivable at the end of August?

Question 12 options:

	$340,000
	$360,000
	$320,000
	$480,000