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Ross Corporation makes all sales on account. The June 30th balance sheet balance in its accounts receivable is $360,000, of which $220,000 pertain to sales that were made during June. Budgeted sales for July are $1,210,000. Ross collects 75% of sales in the month of sale; 10% in the following month; and the final 15% in the second month after the sale.

What is the budgeted balance of Ross's accounts receivable as of July 31?

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On October 1 of the current year, Molloy Corporation prepared a cash budget for October, November, and December. All of Molloy's sales are made on account. The following information was used in preparing estimated cash collections:

August sales (actual)	$ 31,000
September sales (actual)	$ 41,000
October sales (estimated)	$ 28,000
November sales (estimated)	$ 61,000
December sales (estimated)	$ 51,000

Approximately 65% of all sales are collected in the month of the sale, 20% is collected in the following month, and 15% is collected in the month thereafter.

Budgeted collections from customers in October total:

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The following information is from the manufacturing budget and budgeted financial statements of Altman Corp.:

Direct materials inventory, 1/1	$ 85,000
Direct materials inventory, 12/31	$ 101,000
Direct materials budgeted for use during year	$ 343,000
Accounts payable to suppliers, 1/1	$ 53,000
Accounts payable to suppliers, 12/31	$ 63,000

For the year, budgeted purchases of direct materials amounted to: