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What is the total cash collected The LaGrange Corporation had the following budgeted sales for the first half of the current year: Cash Credit Sales

What is the total cash collected

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The LaGrange Corporation had the following budgeted sales for the first half of the current year: Cash Credit Sales Sales January $ 80,000 $180,000 February 5 85,000 $200,000 March $ 48,000 $160,000 April 5 43,000 $128,000 May 5 53,000 $230,000 June $110,000 $220,000 [ 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 Januaryl ofthe current year was $75,000, of which $47,000 represents uncollected December sales and $28,000 represents uncollected November sales. The total cash collected during January by LaGrange Corporation would be

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