ABC Company had gross sales revenue of $200,000, returns andallowances of $10,000, purchase discounts of $5,000, and operatingexpenses of $25,000. What is ABC Company's net sales?8888$200,000$185,000$190,000$160,000

Name: ABC Company had gross sales revenue of $200,000, returns andallowance
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Description: ABC Company had gross sales revenue of $200,000, returns andallowances of $10,000, purchase discounts of $5,000, and operatingexpenses of $25,000. What is ABC Company's net sales?8888$200,000$185,000$190,000$160,000

Introduction:- Net sales is the sum of a company's gross sales minus its returns, allowances, and…

Business

Accounting

ABC Company had gross sales revenue of $200,000, returns and allowances of $10,000, purchase discounts of $5,000, and operatin expenses of $25,000. What is ABC Company's net sales? $200,000 $185,000 $190,000

ABC Company had gross sales revenue of $200,000, returns and allowances of $10,000, purchase discounts of $5,000, and operatin expenses of $25,000. What is ABC Company's net sales? $200,000 $185,000 $190,000

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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Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

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Question

ABC Company had gross sales revenue of $200,000, returns and
allowances of $10,000, purchase discounts of $5,000, and operating
expenses of $25,000. What is ABC Company's net sales?
8888
$200,000
$185,000
$190,000
$160,000

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