Smith & Sons reports sales revenue of ($ 1,000,000) on its income statement. Its balance sheet reveals
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Smith \& Sons reports sales revenue of \(\$ 1,000,000\) on its income statement. Its balance sheet reveals beginning and ending accounts receivable of \(\$ 92,000\) and \(\$ 60,000\), 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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