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

Cash SalesCredit SalesJanuary$30,000$130,000February$35,000$150,000March$36,000$110,000April$31,000$116,000May$41,000$180,000June$60,000$100,000

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

40% in month following sale

10% in second month following sale

The accounts receivable balance on January 1 of the current year was $72,000, of which $56,000 represents uncollected December sales and $16,000 represents uncollected November sales.

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

Garrison 16e Rechecks 2017-10-03, 2017-10-06