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A company reported the following amounts at the end of the year: total sales revenue = $518,000; sales allowances = $8,000; sales returns $21,000; net revenues = $472,000. What amount did the company report for sales discounts for the year? =

A company reported the following amounts at the end of the year: total sales revenue = $518,000; sales allowances = $8,000; sales returns $21,000; net revenues = $472,000. What amount did the company report for sales discounts for the year? =

FINANCIAL ACCOUNTING
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 reported the following amounts at the end of the year: total sales revenue = $518,000; sales allowances = $8,000; sales returns $21,000; net revenues = $472,000. What amount did the company report for sales discounts for the year? =
Transcribed Image Text:A company reported the following amounts at the end of the year: total sales revenue = $518,000; sales allowances = $8,000; sales returns $21,000; net revenues = $472,000. What amount did the company report for sales discounts for the year? =
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