Audrey Incorporated has forecast sales to be $212,000 in February, $277,000 in March, $297,000 in April, and $317,000 in May. The average cost of goods sold is 60% of sales. All sales are made on credit and sales are collected 50% in the month of sale, 30% the month following, and the remainder two months after the sale. What is the budgeted Accounts Receivable balance on May 31?

Multiple Choice

$158,600

$217,900

$130,700

$190,000