The La Grange Corporation had the following budgeted sales for the first half of the current year. January February March April May June Cash Credit Sales Sales $ 80,000 $180,000 $ 85,000 $200,000 $ 46,000 $160,000 $ 41,000 $126,000 $ 51,000 $230,000 $110,000 $200,000 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 sales: 45% in month of sale 50% in month following sale 5% in second month following sale The accounts receivable balance on January 1 of the current year was $81,000, of which $55,000 represents uncollected December soles and $26,000 represents uncollected November soles, What is the budgeted accounts receivable balance on May 31? What is the budgeted accounts receivable balance on May 31? Multiple Choice O $106,800 O $126,500 O $132,800 $239,600