Answer:
The total cash collected during January by LaGrange Corporation would be: $192,000
Explanation:
Total Credit Sales in December of the current year = $63,000/45% = $140,000
The total cash collected during January = Cash sales of January + 55% x Credit sales of January + 40% x Credit sales of December + uncollected November sales
The LaGrange Corporation has Cash sales of January of $40,000 and Credit sales of January of $140,000, uncollected November sales of $19,000
The total cash collected during January = $40,000 + 55% x $140,000 + 40% x $140,000 + $19,000 = $192,000
