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As of January 1 of the current year, Phyllis Company had accounts receivables of $50,000. The sales for January, February, and March were as follows:
As of January 1 of the current year, Phyllis Company had accounts receivables of $50,000. The sales for January, February, and March were as follows: $120,000, $140,000, and $160,000. 20% of each month's sales are for cash. Of the remaining 80% (the credit sales), 60% are collected in the month of sale, with the remaining 40% 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.$146,800
b.$138,000
c.$153,600
d.$142,800
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