5 The company is in the process of preparing a cash budget and must determine the expected cash collections by month To this end, the following information has been assembled Collections on sales SON in month of sale 45% in month following sale Obecond month following sale 00:52 The accounts receivable balance on January 1 of the current year was $74.000 of which $50.000 representa un colected December sales and 524 000 represents uncollected November Sales What is the budgeted accounts receivable balance on May 311 5 The company is in the process of preparing a cash budget and must determine the expected cash collections by month To this end, the following information has been assembled Collections on sales SON in month of sale 45% in month following sale Obecond month following sale 00:52 The accounts receivable balance on January 1 of the current year was $74.000 of which $50.000 representa un colected December sales and 524 000 represents uncollected November Sales What is the budgeted accounts receivable balance on May 311