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As of January 1 of the current year, Edwards Company had accounts receivable of $50,000. The sales for January, February, and March were as follows:

As of January 1 of the current year, Edwards Company had accounts receivable of $50,000. The sales for January, February, and March were as follows: $100,000, $140,000, and $180,000. Twenty percent of each month's sales are for cash. Of the remaining 90% (the credit sales), 65% are collected in the month of sale, with the remaining 35% collected in the following month. What is the total cash collected (both from accounts receivable and from cash sales) in the month of March? a. $138,150 b. $148,050 c. $138,600 d. $167,400

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