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

	Cash Sales	Credit Sales
January	$50,000	$150,000
February	$55,000	$170,000
March	$48,000	$130,000
April	$53,000	$148,000
May	$63,000	$200,000
June	$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

The accounts receivable balance on January 1 is $78,000. Of this amount, $42,000 represents uncollected December sales and $36,000 represents uncollected November sales.

What is the budgeted accounts receivable balance on May 30?