Determine total contra revenues for
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Use the following to answer questions 6 – 7
MC, Inc., reported the following amounts at the end of the
year:
Total sales
$888,000
Accounts receivable
Sales allowances
60,000
3,500
Allowance for Uncollectible accounts
1,400
Sales discounts
18,000
9,000
Sales returns
Determine total contra revenues for
$
the company
6.
7.
$
Determine net sales for the
company
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