Mitchell Company had the following budgeted sales for the first half of next year:

	Cash Sales	Credit Sales
January	$40,000	$140,000
February	$45,000	$160,000
March	$44,000	$120,000
April	$49,000	$144,000
May	$59,000	$190,000
June	$70,000	$340,000

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:

55% in month of sales

40% in month of following sales

5.0% in second month following sales

Assume that the accounts receivable balance on January 1 was $77,000. Of this amount, $63,000 represented uncollected December sales and $14,000 represented uncollected November sales. Given these data, the total cash collected during January would be:

$140,000

$187,000

$200,000

$211,000