(Calculate cash collections, LO 3) In its November 30, 2014 financial statements, Matapedia Inc. (Matapedia) reported a beginning accounts receivable balance of

$3,225,000 and an ending accounts receivable balance of $3,392,000. The company also had unearned revenue at the beginning of fiscal 2014 of $345,000 and a $275,000 of unearned revenue on November 30, 3014. Matapedia reported sales for the year ended November 30, 2014, of $27,400,000. All sales are on credit.

Required:
Calculate the amount of cash Matapedia collected from customers during fiscal 2014.