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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, $150,000, and $180,000. 20% of each month's sales are for cash. Of the remaining 80% (the credit sales), 70% are collected in the month of sale, with the remaining 30% collected in the following month. What is the total cash collected (both from accounts receivable and for cash sales) in the month of March?
a.$144,800
b.$127,200
c.$115,200
d.$172,800
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