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Newark Company has provided the following information: Cash sales, $630,000 Credit sales, $1,530,000 Selling and administrative expenses, $510,000 Sales returns and allowances, $108,000 Gross profit,

Newark Company has provided the following information:

  • Cash sales, $630,000
  • Credit sales, $1,530,000
  • Selling and administrative expenses, $510,000
  • Sales returns and allowances, $108,000
  • Gross profit, $1,540,000
  • Increase in accounts receivable, $73,000
  • Bad debt expense, $51,000
  • Sales discounts, $61,000
  • Net income, $1,030,000

How much cash was collected from customers?

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