Richards Corporation has the following budgeted sales for the first half of next year: January February March April May June Cash Sales $40,000 $45,000 $44,000 $49,000 $59,000 $70,000 Credit Sales $140,000 $160,000 $120,000 $144,000 $190.000 $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 The accounts receivable balance on January 1 Is $77,000. Of this amount, $63,000 represents uncollected December sales and $14,000 represents uncollected November sales. The total cash collected during January would be: 0 $140,000 $211,000 $187,000 O $200,000