Richards Corporation Has the Following Budgeted Sales for the First

Richards Corporation has the following budgeted sales for the first half of next 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: 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?

A) $81, 000
B) $68, 000
C) $60, 000
D) $141, 000