A firm provides the following information: Consider accounts receivable and its allowance, and determine how much cash was collected on credit sales during the current year.

Select one:

a. $432,750

b. $441,750

c. $408,250

d. $450,750

e. None of the above

this year Accounts receivable Allowance for uncollectibles Inventory Prepaid supplies Accounts payable Credit sales Cash sales Cost of goods sold Bad debt expense 98,000 2,000 125,000 12,000 65,000 425,000 125,000 225,000 8,000 last year 114,750 3,000 120,000 10,000 55,000