Given the following information, the total cash collected during January would be January February March April May June Cash Credit Sales Sales $ 80,000 $180,000 $ 85,000 $200,000 $ 48,000 $160,000 $ 43,000 $128,000 $ 53,000 $230,000 $110,000 $220,000 Collections on sales are 50% in month of sale, 40% in month following sale, and 10% in second month following sale. Accounts receivable on January 1 is $75,000, of which $47,000 represents uncollected December sales and $28,000 represents uncollected November sales. Multiple Choice $321,000 $264,000 $94,000 $235,600