Fairchild Had the Following Information Related to the Sale of Its

Fairchild had the following information related to the sale of its products during its first year of business: $$\begin{array} { | l | r | } \hline \text { Revenue } & \$ 1,000,000 \\\hline \text { Returns of goods sold } & \$ 100,000 \\\hline \text { Cash collected } & \$ 800,000 \\\hline \text { Cost of goods sold } & \$ 700,000 \\\hline\end{array}$$ Under the accrual basis of accounting, how much net revenue would be reported on Fairchild 's income statement?

A) $200,000
B) $800,000
C) $900,000
D) $700,000