the lagrange corporation had the following budgeted sales for the first half of the current year: cash sales credit sales january $ 50,000 $ 150,000 february $ 55,000 $ 170,000 march $ 29,000 $ 130,000 april $ 24,000 $ 109,000 may $ 34,000 $ 200,000 june $ 80,000 $ 30,000 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 sales: 45% in month of sale 35% in month following sale 20% in second month following sale the accounts receivable balance on january 1 of the current year was $71,000, of which $55,000 represents uncollected december sales and $16,000 represents uncollected november sales. what is the budgeted accounts receivable balance on may 31?