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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.

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. Compute for the current year the amount of: 1. Net sales reported as revenue in the income statement. 2. Cash received from collecting accounts receivable. 3. Cash received from customers. b. Write a brief statement explaining why cash received from customers differs from the amount of net sales.

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