East Coal Corp has budgeted for the following sales: Jul…
East Coal Corp has budgeted for the following sales: July $445,200 August $580,200 September $615,100 October $890,100 November $731,000 December $691,000 Sales are collected as follows: 20% in the month of sale; 55% in the month following the sale; and the remaining 25% in the second month following the sale. In East Coal’s budgeted balance sheet at December 31, at what amount will accounts receivable be shown?