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

	Cash Sales	Credit Sales
July	$50,000	$150,000
August	$55,000	$170,000
September	$48,000	$130,000
October	$53,000	$148,000
November	$63,000	$200,000
December	$80,000	$380,000

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:

50% in month of sales

40% in month of following sales

10% in second month following sales

What is the budgeted accounts receivable balance on December 1?

$131,300

$143,000

$100,000

$114,800