The LaGrange Corporation had the following budgeted sales for the first half of the current year: 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. 30% in month following sale 15\% in second month following sale The accounts recelvable bolance on January 1 of the current year was $68,000, of which $54,000 represents uncollected December sales and $14,000 represents uncollected November sales. The total cash collected during January by LaGrange Corporation would be: Multiple Choice $229,000 $226,000 $120,000 $300,000