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

	Cash Sales		Credit Sales
January	$	40,000	$	140,000
February	$	45,000	$	160,000
March	$	39,000	$	120,000
April	$	34,000	$	119,000
May	$	44,000	$	190,000
June	$	70,000	$	130,000

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:

55% in month of sale

40% in month following sale

5% in second month following sale

The accounts receivable balance on January 1 of the current year was $82,000, of which $63,000 represents uncollected December sales and $19,000 represents uncollected November sales.

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

$190,000

$192,000

$140,000

$216,000

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

	Cash Sales		Credit Sales
January	$	40,000	$	140,000
February	$	45,000	$	160,000
March	$	39,000	$	120,000
April	$	34,000	$	119,000
May	$	44,000	$	190,000
June	$	70,000	$	130,000

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:

55% in month of sale

40% in month following sale

5% in second month following sale

The accounts receivable balance on January 1 of the current year was $82,000, of which $63,000 represents uncollected December sales and $19,000 represents uncollected November sales.

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

$190,000

$192,000

$140,000

$216,000