The LaGrange Corporation had the following budgeted sales for the first half of the current year: January February March April May June Cash Sales Credit Sales $70,000 $75,000 $45,000 $40,000 $50,000

$100,000 $170,000 $190,000 $150,000 $125,000 $220,000 $190,000 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: 45% in month of sale 40% in month following sale 15% in second month following sale The accounts receivable balance on January 1 of the current year was $69,000, of which $44,000 represents uncollected December sales and $25,000 represents uncollected November sales. The total cash collected during January by LaGrange Corporation would be: