# accounting

As of January 1 of the current year, the Grackle Company had accounts receivables of \$50,000. The sales for January, February, and March of 2012 were as follows: \$120,000, \$140,000 and \$150,000. 20% of each month’s sales are for cash. Of the remaining 80% (the credit sales), 60% are collected in the month of sale, with remaining 40% collected in the following month. What is the total cash collected (both from accounts receivable and for cash sales) in the month of January?

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