Save The LaGrange Corporation had the following budgeted sales for the first half of the current year January February March April May June Cash Sales Credit Sales $80,000 $180,000 SB5,000 $200,000 $48,000 $160,000 $43,000 5128,000 553,000 $230,000 5110,000 $220,000 20 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: ok Collections on sales 50% in month of sale 40% in month following sale 10% in second month following sale The accounts receivable balance on January 1 of the current year was $75,000, of which $47.000 represents uncollected December sales and $28.000 represents uncollected November sales The total cash collected during January by LaGrange Corporation would be Multiple Choice $321,000 $94,000 $264,000 $235,600