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A. $12,720,000. were $370,000, sales discounts were $175,000, and freight-out was $140,000. Net sales last year for Lang Company were B. $12,175,000. C. $12,350,000. D. ces $12,035,000.

A. $12,720,000. were $370,000, sales discounts were $175,000, and freight-out was $140,000. Net sales last year for Lang Company were B. $12,175,000. C. $12,350,000. D. ces $12,035,000.

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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Gross billings for merchandise sold by Lang Company to its customers last year amounted to $12,720,000; sales returns and allowances were $370,000, sales discounts were $175,000, and freight-out was $140,000. Net sales last year for Lang Company were A. $12,720,000.
Transcribed Image Text:Gross billings for merchandise sold by Lang Company to its customers last year amounted to $12,720,000; sales returns and allowances were $370,000, sales discounts were $175,000, and freight-out was $140,000. Net sales last year for Lang Company were A. $12,720,000.
A. $12,720,000. were $370,000, sales discounts were $175,000, and freight-out was $140,000. Net sales last year for Lang Company were B. $12,175,000. C. $12,350,000. D. ces $12,035,000.
Transcribed Image Text:A. $12,720,000. were $370,000, sales discounts were $175,000, and freight-out was $140,000. Net sales last year for Lang Company were B. $12,175,000. C. $12,350,000. D. ces $12,035,000.
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