The LaGrange Corporation had the following budgeted sales for the first half of the current year: March April May June Credit Cash Sales Sales $60,000 $160,000 $65,000 $180,000 $33,000 $140,000 $28,000 $113,000 $38,000 $210,000 $90,000 $70,000 Saved Collections on sales: 45% in month of sale 30% in month following sale 25% in second month following sale Help 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: Save & Exit What is the budgeted accounts receivable balance on May 31? The accounts receivable balance on January 1 of the current year was $67,000, of which $55,000 represents uncollected December sales and $12,000 represents uncollected November sales. Submit

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: 45% in month of sale 30% in month following sale 25% in second month following sale The accounts receivable balance on January 1 of the current year was $67,000, of which $55,000 represents uncollected December sales and $12,000 represents uncollected November sales. What is the budgeted accounts receivable balance on May 3