? Problem 4-32 (b) (LO. 2) Brad operates a hardware store. He maintains the books using the cash method. At the end of 2020, his accountant computes his accrual basis income that is used on his tax retum For 2020, Brad had cash receipts of $2,200,000, which included $750,000 collected on accounts receivable from 2019 sales. At the end of 2020, he had $910,000 in accounts receivable from customers, all from 2020 sales. Brad paid cash for all of the purchases. The total amount he paid for merchandise in 2020 was $ 1,100,000. At the end of 2019, he had merchandise on hand with a cost of $165,000. At the end of 2020, the cost of merchandise on hand was $140,000 Brad's accrual basis gross receipts for 2020 are S The cost of goods sold for 2020 under the accrual method is s