Carlson's Department Store had sales to customers during 1979 as follows: cash sales, \(\$ 400,000\); sales on account, \(\$ 500,000\). Based on past experience, Carlson's estimates that .5 percent of goods sold will be returned because of defects. The customers are given full credit for the returned merchandise, and the defective merchandise is scrapped. Carlson's also estimates that 2 percent of all sales on account will never be collected. Under the accrual basis of accounting, how much revenue should Carlson's report for sales during 1979?