Richards Corporation has the following budgeted sales for the first half of next year: Credit Sales Cash Sales $40,000 $45,000 $140,000 January February $160,000 $120,000 $40,000 $45,000 $55,000 $70,000 March April May $140,000 $190,000 $300,000 June 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 credit sales: 40% In month of sales 45% In month of following sales 15.0% In second month following sales The accounts recelvable balance on January 1 Is $61,000. Of this amount, $51,000 represents uncollected December sales and $10,000 represents uncollected November sales. The total cash collected during January would be: O $144,250 $204,000 O $85,000 O $219,000