Question

Question 3 options: The following selected account balances weretaken from Buckeye Company's general ledger at January 1, 2005 andDecember 31, 2005: January 1, 2005 December 31, 2005 Inventory52,000 49,000 Accounts payable 40,000 71,000 Salaries payable 3,0009,000 Investments 68,000 75,000 Accounts receivable 83,000 56,000Land 58,000 88,000 Mortgage payable 120,000 95,000 Common stock100,000 180,000 Retained earnings 22,000 35,000 The followinginformation was taken from Buckeye Company's 2005 income statement:Sales revenue $420,000 Cost of goods sold 300,000 Salaries expense94,000 Net income $ 26,000 Calculate the amount of cash collectedfrom customers during 2005. Do not use decimals in your answer.