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 budgot and must determine the expected cash collections by month. To this end, the following information has been assembled: Collections on tales: 40% in month of sale 30 N in month tollowing saie 30% in second month fottowing sale The accounts recelvable balance on January 1 of the current year was $77,000, of which $48.000 represents uncollected December sales and $29,000 represents uncoliected November sales. What is the budgeted accounts recaivable balance on May 31? The accounts receivable balance on January 1 of the current year was $77,000, of which $48,000 represents uncolfected December sales and $29,000 represents uncollected November sales. What is the budgeted accounts recelvable balance on May 31? Mutiple Chaice $170,700 3312.400 5141,700 5132000