The La Grange Corporation had the following budgeted sales for the first half of the current year: January February March April Cash Credit Sales Sales $40,000 $140,000 $ 45,000 $160,000 $ 42,000 $120,000 $37,000 $122,000 $ 47,000 $190,000 $70,000 $160,000 May June 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 sales: 30% in month of sale 35% in month following sale 35% in second month following sale The accounts receivable balance on January 1 of the current year was $92,000, of which $70,000 represents uncollected December sales and $22,000 represents uncollected November sales. The total cash collected during January by LaGrange Corporation would be: Multiple Choice $139,000 $100,000 $189,000 $212,000