Richards Corporation has the following budgeted sales for the first half of next year: January February March April May June Cash Sales $90,000 $95,000 $52,000 $57,000 $67,000 $120,000 Credit Sales $190,000 $210,000 $170,000 $152,000 $240,000 $420,000 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: 50% In month of sales 25% in month of following sales 25.0% In second month following sales The accounts receivable balance on January 1 is $68,000. Of this amount, $46,000 represents uncollected December sales and $22,000 represents uncollected November sales. The total cash collected during January would be: $230,000 $336,000 $92,000 O $283,000