Cash received cheers college (7)

I believe the answer is:

takings

'cash received' is the definition.

'cheers college' is the wordplay.
'cheers' becomes 'ta' (I've seen this in other clues).
'college' becomes 'kings'.
'ta'+'kings'='TAKINGS'

(Other definitions for takings that I've seen before include "Income from transactions" , "Income from sales, etc" , "Monetary receipts" , "gold received?" , "Cash receipts" .)

I've seen this clue in The Times.

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