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

Cash SalesCredit SalesJanuary$80,000$180,000February$85,000$200,000March$51,000$160,000April$56,000$151,000May$66,000$230,000June$110,000$410,000

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:45% in month of sales50% in month of following sales5% in second month following sales

The accounts receivable balance on January 1 is $81,000. Of this amount, $55,000 represents uncollected December sales and $26,000 represents uncollected November sales.

What is the budgeted accounts receivable balance on May 30?