Question 2 (of 27 3.00 points Richards Corporation has the following budgeted sales for the first half of next year January February March April May June Cash Sales $80,000 $85.000 $51,000 $56.000 $66,000 $110,000 Credit Sales $180,000 $200,000 $160,000 S151000 $230,000 $410,000 The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the folywing information has been assembled Collections on credit sales: 45% in month of sales 50% in month of following sales 5.0% in second month following sales The accounts receivable balance on January 11s 576.000, of this amount. $55.000 regresents uncollected December sales and S21000 represents uncollected November sales The total cash collected during January would be: O $100,000 $262.000 O $306.000 O $232.000 MacBook Air