Smith & Sons reports sales revenue of ($1,000,000) on its income statement. Its balance sheet reveals beginning

Question:

Smith & Sons reports sales revenue of $$1,000,000$ on its income statement. Its balance sheet reveals beginning and ending accounts receivable of $$60,000$ and $$92,000,$ respectively. What is the amount of cash collected from customers of the company?

a. $$1,032,000$

b. $$968,000$

c. $$1,060,000$

d. $$1,092,000$

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