Lagos Corp How Much Cash Did Lagos Collect from Customers in 2010

Multiple Choice

Lagos Corp. recorded sales of $345,000 in 2010, in addition its accounts receivable and accounts payable balances at the beginning and end of 2010 were as follows: $\begin{array} { l l } \text { Jan. 1, 2010 } & \text { Dee.31, 2010 } &\\\text { A.cornts Receivible } & \$ 65,000 &\$90,000\\\text { A.cedrts Fayable } & \$ 32,000&\$28,000\end{array}$ How much cash did Lagos collect from customers in 2010?

A) $345,000
B) $320,000
C) $324,000
D) $316,000