QS $20-22($Algo$)$ Computing budgeted accounts receivable LO P$2$

Kingston budgets total sales for June and July of $$350,000$ and $$488,000,$ respectively. Cash sales are $70\%$ 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 receivable 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 $31.$

$\backslash$table$[[$Sales month,Total Sales,Credit Sales,As of July $31],[\backslash$table$[[$Percent$],[$Uncollected$]],\backslash$table$[[$Amount$],[$Uncollected$]]],[$June$,$$$50,000,,,],[$July$,488,000,,,],[$Total$,,,,]]$