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Calculate Novak cash receipts from customers

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Question - At January 1, 2020, Novak Inc., a private company following ASPE, had accounts receivable of $72,300. At December 31, 2020, the accounts receivable balance was $58,200. Sales revenue for 2020 was $427,000. Sales returns and allowances for the year were $11,400. Purchase discounts were in the amount of $4,500 and sales discounts were $1,700. Calculate Novak's 2020 cash receipts from customers.

Reference no: EM132806699

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