The LaGrange Corporation had the following budgeted sales for the first half of the current year: January February March Cash Credit Sales Sales $60,000 $160,000 $65,000 $180,000 $28,000 $140,000 $ 23,000 $108,000 $ 33,000 $210,000 $90,000 $ 20,000 April 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: 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 $65,000, of which $48,000 represents uncollected December sales and $17,000 represents uncollected November sales. The total cash collected during January by LaGrange Corporation would be: $212,000 - $96,000 $195.400