False Value Hardware began

$2021$

$$with a credit balance of $

$31$

$,$

$200$

$$in the refund liability account. Sales and cash collections from customers during the year were $

$660$

$,$

$000$

$$and $

$620$

$,$

$000$

$,$

$$respectively$.$ False Value estimates that

$4$

$\%$

$$of all sales will be returned. During

$2021$

$,$

$$customers returned merchandise for credit of $

$20$

$,$

$000$

$$to their accounts.

False Value Hardware's

$2021$

$$income statement would report net sales of: