LUI nye Corporation had the... The LaGrange Corporation had the following budgeted sales for the first half of the current year: January February March April May June Cash Sales Credit Sales $ 70,000 $ 170,000 $ 75,000 $ 190,000 $ 49,000 $ 150,000 $ 44,000 $ 129,000 $ 54,000 $ 220,000 $ 100,000 $ 230,000 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 sales: 40% in month of sale 30% in month following sale 30% in second month following sale The accounts receivable balance on January 1 of the current year was $77,000, of which $48,000 represents uncollected December sales and $29,000 represents uncollected November sales. What is the budgeted accounts receivable balance on May 31? Multiple Choice $312.400 $132.000 UIC 30% in month following sale 30% in second month following sale The accounts receivable balance on January 1 of the current year was $77.000, of which $48,000 represents uncollected December sales and $29.000 represents uncollected November sales. What is the budgeted accounts receivable balance on May 31? Multiple Choice $312,400 $132.000 $141,700 $170,700 MacBook Air