Required informntion TES 824 inc, is a redaier lts accountants are preparing the companys 2nd quarter master budget. The company has thefollowing balance shem as-at March 31 ES-824 accountarts have made the following estimates. I Sales for Apriil May, Jane, and July will be $270,000,$290,000,$280000, and $300,000, respectively. 2. All sales are on ciedi Each month's credit sales are collected 35% in the month of sale and 65% in the month following the sale. All of the accourts receivable at March 3 til will be collected in Aprit. 3. Each month's ending inventory must equ 30% of next month's cost of goods sold. The cost of goods soid is 60% of sales. The company pays for 40\%s of tits : merchandise purchases in the month of the purchase and the remaining 60% in the month following the purchase, Al of the accounts payabie at March 31 are related to previous metchandise purchases and wil be paid in Apri. 4. Monthily selling and administrative expenses are awray $50,000. Each month $5,000 of this total amount is depreclatica expense and the remaining $45,000 is spent for expenses that are paid in the month they are incurred. The compaty will not borrow moncy or pay or deciare dividends during the 2nd quarter. The compary will not issue any common stock or regurchase ith own stock duning the Znd quarter. How much is the company's expected Accounts Receivable balance on June 30 ? Multiple Choice $182,000 $188,500 $286.500 $98,000