16) The LaGrange Corporation had the following budgeted sales for the first half of the current year: Cash Sales Credit Sales January $90,000 $190,000 February March April $95,000 $210,000 $30,000 $170,000 $25,000 $110,000 May June $35,000 $240,000 $120,000 $40,000 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: 50% in month of sale 40% in month following sale 10% in second month following sale The accounts receivable balance on January 1 of the current year was $65,000, of which $50,000 represents uncollected December sales and $15,000 represents uncollected November sales. The total cash collected during January by LaGrange Corporation would be