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I need help with this question The LaGrange Corporation had the following budgeted sales for the first half of the current year: Cash Credit Sales

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The LaGrange Corporation had the following budgeted sales for the first half of the current year: Cash Credit Sales Sales January $60,000 $160,000 February $65,000 $180,000 March $44,000 $140,000 April $39,000 $124,000 May $49,000 $210,000 June $90,000 $180,000 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 45% in month following sale 5% in second month following sale The accounts receivable balance on Januaryl ofthe current year was $74,000, of which $50,000 represents uncollected December sales and $24,000 represents uncollected November sales. The total cash collected during January by LaGrange Corporation would be

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