Arthur Murray, a resident taxpayer, operates a dance school and operates on an accrual basis for tax purposes. Ignore GST.

During the year ended 30 June 2019 he had the following receipts:

Cash Takings from casual lessons$ 18,000

Receipts from regular customers288,000

(all bookings are received in advance of the actual lessons)

Fully Franked Dividend8,400

Murray also had the following account balances:

Income Received in Advance as at 30 June 2018$ 22,000

Income Received in Advance as at 30 June 201928,000

Calculate Arthur's assessable income for the 2018/19 tax year.