Billy Company expects the following total sales: Month March April May June Sales $50,000 $60,000 $70,000 $65,000 | The company expects 50% of its sales to be credit sales and 50% for cash. Credit sales are collected as follows: 20% in the month of sale, 80% in the month following the sale. The budgeted accounts receivable balance on May 31 is: $28,000 $56,000 $48,000 $24,000 $88,000