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20. (2.5 points) The following information pertains to R: Gross accounts receivable balance as of 12-31-19 was $925,000 Allowance for doubtful accounts balance as of
20. (2.5 points) The following information pertains to R: Gross accounts receivable balance as of 12-31-19 was $925,000 Allowance for doubtful accounts balance as of 12-31-19 was $39,000 Total sales during 2020 were $6,250,000; 95% of sales were on a credit basis. AR write-offs during 2020 were $40,000 R's 12-31-20 AR aging analysis indicates a required balance in the allowance for doubtful accounts of $55,000. The NRV of R's receivables as of 12-31-20 was $910,000. Based on the above: a) How much cash did R collect from its Ars during 2020? b) How much cash did R collect from its total sales (cash and credit) during 2020
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