Answered: A company's gross sales are $120,000,…

A company's gross sales are $120,000, with $5,000 in returns and allowances. What are the net sales? A) $115,000 B) $120,000 C) $125,000 D) $110,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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A company's gross sales are $120,000, with $5,000 in returns and
allowances. What are the net sales?
A) $115,000
B) $120,000
C) $125,000
D) $110,000

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