Cash Sales Credit Sales 50,000 150,000 July August September 55,000 170,000 45,000 130,000 October 50,000 145,000 November 60,000 200,000 December 80,000 350,000 The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end the following information has been assembled Collections on credit sales: 60% in month of sale 30% in month following sale 10% in second month following sale What is the budgeted accounts receivable balance on December 1? Select one: O A 80,000 OB. 140,000 O C. 94.500 D. 131,300