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 $50,000 $150,000 $55,000 $170,000 $51,000 $130,000 $ 46,000 $131,000 $56,000 $200,000 $80,000 $250,000 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 30% in month following sale 20% in second month following sale The accounts receivable balance on January 1 of the current year was $81,000, of which $50,000 represents uncollected December sales and $31,000 represents uncollected November sales. The total cash collected during January by LaGrange Corporation would be: The total cash collected during January by LaGrange Corporation would be: Multiple Choice $237000 . S100,000 $261,000 $186,000