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: 30% in month of sale 35% in month following sale 35% in second month following sale The accounts recelvable balance on January 1 of the current year was $92,000, of which $70,000 represents uncollected December sales and $22,000 represents uncollected November sale What is the budgeted accounts recelvable balance on May 31 ? Multiple Choice $153,700 $133,000 $175,700 $329,400