the option are

1) $247,500

2) $131,250

3) $114,000

4) $116,250

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: 40% in month of sale 45% in month following sale 15% in second month following sale The accounts receivable balance on January 1 of the current year was $66,000, of which $51,000 represents uncollected December sales and $15,000 represents uncollected November sales. What is the budgeted accounts receivable balance on May 31