C-Cubed had the following information from the end of last year for its Mountain Bikes: Budgeted Bike Sales for October 115 bikes Budgeted Bike Sales for November 120 bikes Budgeted Bike Sales for December 100 bikes Desired Ending Finished Goods Inventory 15% of the following month's unit sales Cash Collected from Sales in November $40,000 Cash Available on November 1 $5,000 Cash Disbursements in November $25,000 Interest Received During November $500 Loan Payments Made During November $8,000 The selling price for the Mountain Bikes is $750. All sales are on credit and all credit sales are collected. Each month's credit sales are collected 20% in the month of sale, 30% in the month following the sale, and 50% in the second month following the sale. What is the budgeted accounts receivable balance at the end of December? Multiple Choice $60,000 $97,500 $52,500