The following credit by Electronics in of operations: January $324,000 February 320,000 March 335, 000 April 340,000 May 342,000 Industry standards for similar companies indicates that 50 % of the accounts receivable are collected in the month of sale , 30 % in the month following the sale and 20 % in the second month following the sale . a ) Prepare a cash receipts budget for the first quarter including each month in the quarter using this industry standard for collections . b ) What is the accounts receivable balance at the end of March