Response to the following problem:
The following selected account balances were taken from Buckeye Company's general ledger at January 1, 2005 and December 31, 2005:
January 1, 2005 December 31, 2005
Unearned revenue 12,000 20,000
Inventory 59,000 42,000
Accounts payable 40,000 51,000
Salaries payable 9,000 3,000
Investments 75,000 68,000
Accounts receivable 63,000 96,000
Land 58,000 88,000
Mortgage payable 120,000 95,000
Common stock 100,000 180,000
Retained earnings 22,000 35,000
The following information was taken from Buckeye Company's 2005 income statement:
Sales revenue $420,000
Cost of goods sold 300,000
Salaries expense 88,000
Loss on sale of investments 6,000
Net income $ 26,000
Calculate the amount of cash collected from customers during 2005.