The LaGrange Corporation. had the following budgeted sales for the first half of the currentlyear: 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: 40% in month of sale 30% in month following sale 30% in second month following sale The accounts receivable balance on January 1 of the current year was $77,000, af which $48,000, represents uncollected December sales and $29,000 represents uncollected November sales. The total cash collected during January by LaGrange Corporation would be: December sales and $29.000 represents uncollected November sales. The total cash collected during January by LaGrange Corporation would be: Multiple Choice $301,000 $80,000 $255,000 $191,000