Richards Corporation has the following budgeted sales for the first half of next year:

	Cash Sales	Credit Sales
January	$60,000	$160,000
February	$65,000	$180,000
March	$55,000	$140,000
April	$60,000	$155,000
May	$70,000	$210,000
June	$90,000	$450,000

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:

45% in month of sales

35% in month of following sales

20.0% in second month following sales

The accounts receivable balance on January 1 is $80,000. Of this amount, $55,000 represents uncollected December sales and $25,000 represents uncollected November sales.

The total cash collected during January would be:

$192,000

$100,000

$250,000

$270,000