Assume a merchandising company provides the following information from its master budget for the month of May: Sales Cost of goods sold $ 121,000 $ 97,000 Selling and administrative expenses $ 31,000 $ 17,000 $ 24,500 Accounts receivable, May 1st Accounts receivable, May 31st If all of the company's sales are on account, what is the amount of cash collections from customers included in the cash budget for May? Multiple Choice $104,000 $111,500 $113,500 $121,000