Mitchell Company had the following budgeted sales for the first hart of next year. The company is in me process of preparing a cash budget and must determine the expected cash collections by month To this end. the following information has been assembled. Assume that the accounts receivable balance on January 1 was $65 000 Of this amount. $50,000 represented uncollected December sates and $15,000 represented uncollected November sales Given these data, the total cash collected during January would be: $325,000 $100,000 $240,000 $255,000