The LaPann Company has obtained the following sales forecast data:

	July	August	September	October
Cash Sales	$80,000	$70,000	$50,000	$60,000
Credit Sales	$195,700	$222,600	$189,800	$200,000

The regular pattern of collection of credit sales is 20% in the month of sale, 70% in the month following the month of sale, and the remainder in the second month following the month of sale. There are no bad debts.

What is the budgeted accounts receivable balance on September 30?

a.

$151,840

b.

$174,100

c.

$213,350

d.

$235,488