A company has cash sales of $75,000, credit sales of $320,000, sales returns and allowances of $13,700, and sales discounts of $6,000. Its net sales equal a. $395,000. c. $300,300. e. $414,700. b. $375,300. d. $339,700.

A company has cash sales of $75,000, credit sales of $320,000, sales returns and allowances of $13,700, and sales discounts of $6,000. Its net sales equal a. $395,000. c. $300,300. e. $414,700. b. $375,300. d. $339,700.

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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Question

A company has cash sales of $75,000, credit sales of
$320,000, sales returns and allowances of $13,700, and
sales discounts of $6,000. Its net sales equal
a. $395,000. c. $300,300. e. $414,700.
b. $375,300. d. $339,700.

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