The LaGrange Corporation had the following budgeted sales for the first half of the current 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:

Collections on sales:

$50\%$ in month of sale

$40\%$ in month following sale

$10\%$ in second month following sale

The accounts receivable balance on January $1$ of the current year was $$65,000,$ of which $$48,000$ represents uncollected December sales and $$17,000$

represents uncollected November sales.

What is the budgeted accounts receivable balance on May $31?$