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Kingston budgets total sales for June and July of $420,000 and $438,000, respectively. Cash sales...

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Accounting

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Kingston budgets total sales for June and July of $420,000 and $438,000, respectively. Cash sales are 65% of total sales. Of the credit sales, 20% are collected in the month of sale, 70% are collected during the first month after the sale, and the remaining 10% are collected in the second month after the sale. Determine the amount of accounts recelvable reported on the company's budgeted balance sheet as of July 31 . Hint: Determine the percent of June and July sales that are uncollected at July 31

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