The LaGrange Corporation had the following budgeted sales for the first half of the current year:

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 $$85,000,$ of which $$55,000$ represents uncollected December sales and $$30,000$

represents uncollected November sales.

The total cash collected during January by LaGrange Corporation would be:

Multiple Choice