TB MC Qu. 8-93 (Algo) The LaGrange Corporation had the... The LaGrange Corporation had the following budgeled sales for the first half of the current year: The compony 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 sales: 45% in month of sale 35% in month following sale 20\% in second menth following sale The accounts receivabie bolance on Jahuary 1 of the current year was $85,000, of which $55,000 represents uncoliected Decernber sales and 530000 represents uncollected November sales. What is the budgeted accounts receivabie balance on May 3n Multiple Choice $min $253,000 $141.500 $115,500 TB MC Qu. 8-93 (Algo) The LaGrange Corporation had the... The LaGrange Corporation had the following budgeled sales for the first half of the current year: The compony 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 sales: 45% in month of sale 35% in month following sale 20\% in second menth following sale The accounts receivabie bolance on Jahuary 1 of the current year was $85,000, of which $55,000 represents uncoliected Decernber sales and 530000 represents uncollected November sales. What is the budgeted accounts receivabie balance on May 3n Multiple Choice $min $253,000 $141.500 $115,500