A company has the following budgeted sales for the first three months of next year: January February March Cash sales $95,000 $63,000 $78,000 Credit sales $356,000 $221,000 $168,000 The Company is in the process of preparing a cash budget and must determine the expected cash collections. Accordingly, following information has been assembled: Collections on credit sales: The month of sale A month after sale Two months after sale 35% 55% 10% The accounts receivable balance on January 1 is $68,000. Of this amount, $52,520 represents uncollected December sales a $15,480 represents uncollected November sales. The total cash collected in January would be: [ANS] $ < Prev 16 of 17 Next >