Based on the account balances shown below, calculate “Net Sales”.| Account Name | Normal Account Balance ||-----------------------------------|------------------------|| Allowance for Uncollectible | $5,000 || A/R | || Deferred Revenue | $15,725 || Sales Revenue | $114,139 || Sales Discounts | $2,000 || Sales Returns | $6,000 |**Instructions:**Fill in the blank with your calculated number. **DO NOT** include commas, $ signs, periods, decimal points, etc. Just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123.

Name: Based on the account balances shown below, calculate “Net Sales”.| Ac
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Description: Based on the account balances shown below, calculate “Net Sales”.| Account Name | Normal Account Balance ||-----------------------------------|------------------------|| Allowance for Uncollectible | $5,000

Net sales = Sales revenue - Sales discount - Sales return

Business

Accounting

Based on the account balances shown below, calculate "Net Sales". Normal Account Balance Account Name Allowance for Uncollectible $5,000 A/R Deferred Revenue $15,725 Sales Revenue $114,139 Sales Discounts $2,000 Sales Returns $6,000

Based on the account balances shown below, calculate "Net Sales". Normal Account Balance Account Name Allowance for Uncollectible $5,000 A/R Deferred Revenue $15,725 Sales Revenue $114,139 Sales Discounts $2,000 Sales Returns $6,000

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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Crell Computers categorizes its accounts receivable into four age groups for purposes of estimating its allowance for uncollectible accounts.1. Accounts not yet due = $60,000; estimated uncollectible = 5%.2. Accounts 1–30 days past due = $15,000; estimated uncollectible = 10%.3. Accounts 31–60 days past due = $10,000; estimated uncollectible = 20%.4. Accounts more than 60 days past due = $5,000; estimated uncollectible = 30%.What should be the balance in Crell’s allowance for uncollectible accounts?
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