Richards Corporation Has the Following Budgeted Sales for the First

Multiple Choice

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