During 2008, Kew Company, a service organization, had ($200,000) in cash sales and ($3,000,000) in credit sales.

Question:

During 2008, Kew Company, a service organization, had $$200,000$ in cash sales and $$3,000,000$ in credit sales. The accounts receivable balances were $$400,000$ and $$485,000$ at December 31, 2007 and 2008, respectively.

Required:
What was Kew Company’s cash receipts from sales in 2008?

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