The LaGrange Corporation had the following budgeted sales for the first half of the current year: January February March April May June Cash Credit Sales Sales $ 70,000 $170,000 $ 75,000 $190,000 $ 32,000 $150,000 $ 27,000 $112,000 $ 37,000 $220,000 $100,000 $ 60,000 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 sales: 50% in month of sale 35% in month following sale 15% in second month following sale The accounts receivable balance on January 1 of the current year was $65,000, of which $52,000 represents uncollected December sales and $13,000 represents uncollected November sales. The total cash collected during January by LaGrange Corporation would be: Multiple Choice $281.000 S104.000 $218.000 $204,400