The following information was taken from financial statements of Hofburg Corp. for the year just ended: Accounts receivable, January 1 $ 21,600 Accounts receivable, December 31 30,400 Sales on account and cash sales 438,000 Uncollectible accounts 1,000 No accounts receivable were written off or recovered during the year. If the direct method is used in its statement of cash lfows, Hofburg should report cash collected from customers as $429,200 $428,200 $447,800 $446,800