The following information was taken from the 2009 financial statements of Jones Corporation:

Accounts   receivable, January 1, 2009

$30,000

Accounts   receivable, December 31, 2009

40,000

Sales   (all credit sales)

480,000

Required

a. Determine the cash collected from customers by Jones Corporation in 2009.

b. Comment on why cash collected from customers differed from sales.