Assume a company is preparing a budget for its first two months of operations. During the first and second months it expects credit sales of $53,000 and $70,000, respectively. The company expects to collect 45% of its credit sales in the month of the sale and the remaining 55% in the following month. What amount of accounts receivable would the company report in its balance sheet at the end of the second month? Multiple Choice 560,650 $24,750 $23,850 $38,500