Mitchell Company had the following budgeted sales for the last half of last year: 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?

A) $80,000
B) $140,000
C) $94,500
D) $131,300