(Answered) Question - the following information is provided for

Accounting

Question - The following information is provided for Stanton Company for January 2009:

1. Credit Sales: Not given

2. Cash sales: $75,000

3. 1/1/09 Merchandise inventory: $65,000

4. Gross margin for January: 53%

5. 1/1/09 Accounts receivable: $44,700

6. Net income: $21,060

7. 1/31/09 Accounts receivable: Not given

Additional Information:

1. All merchandise purchases are on credit

2. Only credit sales to customers are recorded in accounts receivable

Required: If accounts receivable decreased $7,200 and cash collections from customers were $157,200 during January, what was the total credit sales for January?

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