Fast Foods Has Budgeted Sales for June and July at $520,000

Fast Foods has budgeted sales for June and July at $520,000 and $480,000, respectively. Sales are 80% credit, of which 50% is collected in the month of sale and 50% is collected in the following month. What is the accounts receivable balance on July 31?

A) $192,000
B) $240,000
C) $384,000
D) $400,000