The LaGrange Corporation had the following budgeted sales for the first half of the current year: January February March April May June Cash Sales $50,000 $55,00 $43,000 $38,000 $48,000 $80,000 Credit Sales $150,000 $170,000 $130,000 $123,000 $200,000 $170,000 37 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 $65,000, of which $42.000 represents uncollected December sales and $23,000 represents uncollected November sales The total cash collected during January by LaGrange Corporation would be 5229.000 21 $84.000 5261000 $181.600