Carlton Group has given you the following information about their estimated sales for the first quarter of next year. Carlton is going to purchase some new equipment February 1st for $30,000 and this will greatly improve the quality of the product they are selling. As a result, they increase the selling price of their product starting February 1st.. Carleton sells their product on account. 50% of customers pay in the same month as the sale. The remainder is received the following month. Accounts receivable at December 31 is $50,000 Required: Prepare a Sales Budget and Cash Collections for the 3 months starting January (Quarter 1). What is the Accounts receivable at the end of March