The LaGrange Corporation had the following budgeted sales for the first half of the current year: Cash Credit Sales Sales January $ 70,000 $ 340,000 February $ 50,000 $ 190,000 March $ 40,000 $ 135,000 April $ 35,000 $ 120,000 May $ 45,000 $ 160,000 June $ 40,000 $ 140,000 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: 60% in month of sale 30% in month following sale 10% in second month following sale Assume there is no accounts receivable balance on January 1. The total cash collected during January by LaGrange Corporation would be: