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A company has cash sales of $90,000, credit sales of $280,000, sales returns and allowances of $12,000, and sales discounts of $5,500. What are the company's net sales? a. $352,500 b. $352,000 c. $330,500 d. $357,500 e. $365,500

A company has cash sales of $90,000, credit sales of $280,000, sales returns and allowances of $12,000, and sales discounts of $5,500. What are the company's net sales? a. $352,500 b. $352,000 c. $330,500 d. $357,500 e. $365,500

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 19Q: The following is select account information for Sunrise Motors. Sales: $256,400; Sales Returns and...
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A company has cash sales of $90,000, credit sales of $280,000, sales returns and allowances of $12,000, and sales discounts of $5,500. What are the company's net sales? a. $352,500 b. $352,000 c. $330,500 d. $357,500 e. $365,500
Transcribed Image Text:A company has cash sales of $90,000, credit sales of $280,000, sales returns and allowances of $12,000, and sales discounts of $5,500. What are the company's net sales? a. $352,500 b. $352,000 c. $330,500 d. $357,500 e. $365,500
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