DEF Company had the following budgeted sales for the first half of the current year Cash Sales Credit Sales January $70,000 50,000 February March 40,000 35,000 $340,000 190,000 135.000 120,000 180,000 140,000 April 45,000 May June 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 credit sales 60% in month of sale 30% in month following sale 10% in second month following sale The accounts receivable balance on January 1 of the current year was $70,000, of which $50,000 represents uncollected December sales and $20,000 represents uncollected November sales. The total cash collected by DEF Company during January would be Select one $254.000 b. $331500 OC. $344,000 Od $410,000