Richards corporation has the following budgeted sales for the first half of next year: cash sales credit sales january $80,000 $350,000 february $60,000 $200,000 march $50,000 $145,000 april $45,000 $130,000 may $55,000 $170,000 june $50,000 $150,000 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 credit sales: 60% in month of sale 30% in month following sale 10% in second month following sale the accounts receivable balance on january 1 is $70,000. of this amount, $60,000 represents uncollected december sales and $10,000 represents uncollected november sales. what is the budgeted accounts receivable balance on may 30? multiple choice $81,000 $68,000 $60,000 $141,000