PLEASE SHOW WORK OR EXPLAIN

Question 9

Review: Forrest Gump Corp. began operations in January 2020. During the first quarter, Gump made $300,000 of inventory purchases from suppliers and had sales to customers totaling $400,000. Gump has a 90-day return policy and estimates that 15% of these first-quarter sales will eventually be returned. What amount will Gump report for Sales Revenue on its first-quarter income statement? (just enter the number, without any commas or a dollar sign)

Question 10

Review: Captain Miller Corp. began operations in January 2020. During the first quarter, Miller made $50,000 of inventory purchases from suppliers and had sales to customers totaling $80,000. One half of the sales were cash sales, and the other half were credit sales, where customers have 90 days to pay the account. By the end of the first quarter, none of these customers had paid their accounts. Miller estimates that 90% of its credit sales will eventually be collected while the remaining 10% will default. What amount will Miller report for Accounts Receivable on its first quarter balance sheet? (just enter the number, without any commas or a dollar sign)