Richards Corporation has the following budgeted sales for the first half of next year: 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: The accounts receivable balance on January 1 is $76,000. Of this amount, $60,000 represents uncollected December sales and $16,000 represents uncollected November sales. What is the budgeted accounts receivable balance on May 30? $60,00 $137,000 $197,000 $108,000