Mitchell Company had the following budgeted sales for the last half of last year: 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: 50% in month of sales 45% in month of following sales 5% in second month following sales Assume that the accounts receivable balance on July 1 was $69,000. Of this amount, $50,000 represented uncollected June sales and $19,000 represented uncollected May sales. Given these data, the total cash collected during July would be: $204,000 $243,000 $269,000 $100,000