The La Grange Corporation had the following budgeted sales for the first half of the current year: January February March April May Cash Credit Sales Sales $50,000 $150,000 $ 55,000 $170,000 $29,000 $130,000 $ 24,000 $109,000 $34,000 $200,000 $ 80,000 $ 30,000 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 45% in month of sale 35% in month following sale 20% in second month following sale The accounts receivable balance on January 1 of the current year was $71,000, of which $55,000 represents uncollected December sales and $16,000 represents uncollected November sales. The total cash collected during January by La Grange Corporation would be: Multiple Choice O s168.500 o $100,000 o $195,000 o O s241000