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 sales: 60% in month of sale 30% in month following 53;]: 10% in second month following in: The accounts receivable balance on January 1 of the current year was $?0,000, of which $50,000 represents uncollected December sales and $20,000 represents uncollected November sales. 2. What is the budgeted accounts receivable balance on June 1 of the current year? A) M- B) M- C} M- D} $132,000