he LaGrange Corporation had the following budgeted sales for the first half of the current year: Cash Sales Credit Sales January $80,000 $180,000 February $85,000 $200,000 March $46,000 $160,000 April $41,000 $126,000 May $51,000 $230,000 June $110,000 $200,000 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: 45% in month of sale 50% in month following sale 5% in second month following sale The accounts receivable balance on January 1 of the current year was $81,000, of which $55,000 represents uncollected December sales and $26,000 represents uncollected November sales. The total cash collected during January by LaGrange Corporation would be: