As an audit superviser in an international public accounting firm, you are in charge of the audit of several firms with 31 March year-ends. The financial statements of these firms are prepared in compliance with U.S GAAP, and are expected to be authorized for issue in early June 2017. Your audit juniors on the job have approached you for advice on the following case: Auto Arrow (AA) does not maintain a proper accounting system. A main bulk of its existing source documents were destroyed in a fire. Based on available records and contacts with its customers and also with reference to its 2015/2016 financial statements, it managed to provide the following information for the 2016/2017 financial year: Balance at 1 April 2016 $500,000 $60,000 Balance at 31 March 2017 $520,000 $80,000 Accounts Receivable Allowance for Doubtful Accounts Additional information (1) (2) Sales returns during the year amounted to $6,000. Cash received from its customers = $920,000 of which $50,000 related to an advance payment made by Customer L for goods to be delivered in the financial year 2017/2018. $30,000 of Bad Debt Expense is recognized in the financial year 2016/2017 profit and loss. (3) The accountant is unsure of how to determine the gross sales revenue for the year. Assume all sales are on credit. Required: Determine the gross sales revenue for the financial year 2016/2017