The LaGrange Corporation had the following budgeted sales for the tirst half of the current year. January February March April Nay June Cash Credit Sales Sales $40,000 $140,000 $45,899 $160,000 $ 42,000 $120,000 $37,000 $122,000 $ 47,eee $19e, eee $70,eee $160,eee The company is in the process of preparing a cash budget and most determine the expected cash collections by month. To this end, the following information to been assembled: Collections on sales 30% in month of sale 356 in month following sale 35 in second month following sale The accounts receivable balance on any of the current year was $92,000, which $70.000 represents uncollected December soka and $22.000 represents un collected November sales What is the budgeted accounts receivable balance on May 31 What is the budgeted accounts receivable balance on May 31? Multiple Choice $153,700 $133,000 $175,700 $329,400