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Balance Sheet March 31, 2020 Assets Cash Accounts Receivable Inventory Buildings & equipment (net) $17,100 $91,200 $23,940 $406,790 $539,030 Total Assets $34,770 Liabilities & Owners' Equity Liabilities Accounts Payable Owners' Equity Capital Stock Retained earnings $361,000 $143,260 Total liab. & Owners' equity $539,030 The marketing department has estimated sales in units as follows: April March (actual) 22,800 26,600 May 32,300 June 34,200 July 19,000 The selling price of each unit is $5. What are the total sales budgeted for the second quarter? Sales are 20% for cash and 80% on credit. All payments on credit sales are collected in the month following the sale. The accounts receivable at March 31 are a result of March credit sales. What is the expected amount of cash to be collected in June? What is the budgeted accounts receivable amount for June 30th