Richards Corporation had the following budgeted sales for the first half of next year:

	Cash Sales	Credit Sales
January	$30,000	$130,000
February	$35,000	$150,000
March	$43,000	$110,000
April	$48,000	$143,000
May	$58,000	$180,000
June	$60,000	$330,000

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

30% in month of following sales

20% in second month following sales

The accounts receivable balance on January 1 is $73,000. Of this amount, $58,000 represents uncollected December sales and $15,000 represents uncollected November sales.

What is the budgeted accounts receivable balance on May 30?