Assume a merchandising company provides the following information from its master budget for the month of May: 9 CO Sales Cost of goods sold Selling and administrative expenses Accounts receivable, May 1st Accounts receivable, May 31st $ 120,000 $ 85,000 $ 19,000 $ 17,000 $ 27,500 4 points 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 $103,000 O $113,500 O $109,500 $120,000