A company had the following information taken from various accounts at the end of the year:Sales discountsDeferred revenues$ 41,000Total revenuesPurchase discountsSales allowancesAccounts receivable32,000459,00015,00035,000205,000What was the company's net revenues for the year?

$383,000Explanation:Total revenues459000Less: Sales discounts41000Sales allowances35000Net…

Answered: A company had the following information…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A company had the following information taken from various accounts at the end of the year: Sales discounts Deferred revenues $ 41,000 Total revenues Purchase discounts Sales allowances Accounts receivable 32,000 459,000 15,000 35,000 205,000 What was the company's net revenues for the year?