Jax Co. has budgeted the following sales for the second quar…
Jax Co. has budgeted the following sales for the second quarter of 2025. April May June Budgeted sales $690,000 $580,000 $490,000 The company expects 70% of a month’s sales to be collected in the month of sales, another 20% are collected in the month following the sale, and the remaining 10% are collected in the second month following the sale. What is the accounts receivable balance expected to be on June 30th?