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information of an entity's account is shown below: increase in accounts receivable 800,000 decrease in trade note receivable 200,000 collection on trade notes receivable 2,000,000
information of an entity's account is shown below:
increase in accounts receivable 800,000
decrease in trade note receivable 200,000
collection on trade notes receivable 2,000,000
recoveries of accounts previously written off (included in collection) 10,000
collections on accounts receivable 1,000,000
write offs 100,000
sales returns (from credit sales) 20,000
requirements: compute the following:
a. net sales revenue under the accrual basis of accounting.
b. net sales revenue unders the cash basis of accounting
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