The following information was taken from the 2014 financial statement of Planet Corporation: Accounts receivable, January 1,

Question:

The following information was taken from the 2014 financial statement of Planet receivable, January 1, 2014 ......... $ 21,600
Accounts receivable, December 31, 2014 ........ 30,400
Sales on accounts and cash sales ........... 438,000
Uncollectible accounts (bad debts) ........... 1,000
No were written off or recovered during the year.

Required:
Determine the cash collected from customers by Planet in 2014.

Accounts Receivable
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