Cooper Company, a retailer of camping supplies has budgeted activity for January using the following data:

January cash sales

$50,000

January credit Sales

380,000

Collections from December credit sales

150,000

Selling and administrative costs (paid in month of purchase)

50,000

Depreciation expense

25,000

Merchandise Inventory, January 1

200,000

Merchandise Inventory, January 31

210,000

Cost of goods sold is 40% of Cooper's selling price

All purchases are paid in cash

Credit sales are collected 60% in the month of sale, 35% in the following month, and 5% is deemed uncollectible

Required:

Whatis Cooper's budgeted cash receipts for January?

I don't understand how to find the beginning cash balance