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


The LaGrange Corporation had the following budgeted sales for the first half of the current year: Cash Sales Credit Sales January$50,000$150,000 February$55,000$170,000 March$51,000$130,000 April$46,000$131,000 May$56,000$200,000 June$80,000$250,000 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 30% in month following sale 20% in second month following sale The accounts receivable balance on January 1 of the current year was $81,000, of which $50,000 represents uncollected December sales and $31,000 represents uncollected November sales. The total cash collected during January by LaGrange Corporation would be:


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