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Kingston anticipates total sales for June and July of $430,000 and $338,000, respectively. Cash sales are normally 60% of total sales. Of the credit sales, 20% are collected in the same month as the sale, 65% are collected during the rst month alter the sale, and the remaining 15% are collected in the second month after the sale. Determine the amount of accounts receivable reported on the company's budgeted balance sheet as of July 31. ' Q Answer is camplete but not entirely correct. 0 0 00.0009 0,009 338,000 135,800 9 1,068,640 9 $ 1,098,740 Santos Co. is preparing a cash budget for February. The company has $19,000 cash at the beginning of February and anticipates $72,000 in cash receipts and $112,000 in cash payments during February. What amount, if any, must the company borrow during February to maintain a $5,000 cash balance? The company has no loans outstanding on February 1. (Negative cash balances, if any, should be indicated with minus sign.) Beginning cash balance Total cash available Preliminary cash balance = Ending cash balance