Irene & Co. had sales of € 15,000 during 2004, 80% of them on credit and 20% for cash. During the year, trade and other receivables increased from € 1,200 to € 1,600, an increase of € 400. What amount...

Irene & Co. had sales of € 15,000 during 2004, 80% of them on credit and 20% for cash. During the year, trade and other receivables increased from € 1,200 to € 1,600, an increase of € 400. What amount of cash was received from customers during 2004?

(a) € 15,400

(b) € 3,400