During the current year, Tachnic, Inc., made cash sales of $289,000 and credit sales of $472,000. During the year, accounts receivable decreased by $32,000.

During the current year, Tachnic, Inc., made cash sales of $289,000 and credit sales of $472,000. During the year, accounts receivable decreased by $32,000.

a-1. Compute for the current year the amount of net sales reported as revenue in the income statement. a-2. Compute for the current year the amount of cash received from collecting accounts receivable. a-3. Compute for the current year the amount of cash received from customers. Assume that the credit sales amount has been collected during the current year.