**Calculating Net Sales**_Garza Company had sales of $153,000, sales discounts of $2,300, and sales returns of $3,670. Garza Company's net sales equals:_**Multiple Choice:**- $5,970.- $147,030.- $150,700.- $153,000.- $158,970.To calculate the net sales, you need to subtract the sales discounts and sales returns from the total sales.Net Sales = Total Sales - Sales Discounts - Sales ReturnsIf the question looks like the following:**Given Information:**- Total Sales = $153,000- Sales Discounts = $2,300- Sales Returns = $3,670**Steps to Calculate:**1. Subtract Sales Discounts from Total Sales. - $153,000 - $2,300 = $150,7002. Subtract Sales Returns from the result. - $150,700 - $3,670 = $147,030**Correct Answer:**- $147,030Students should select "$147,030" as the correct answer from the multiple-choice options.

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Description: **Calculating Net Sales**_Garza Company had sales of $153,000, sales discounts of $2,300, and sales returns of $3,670. Garza Company's net sales equals:_**Multiple Choice:**- $5,970.- $147,030.- $150,700.- $153,000.- $158,970.To calculate the net sa

Net sales = Total sales - Sales return - Sales discount

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Garza Company had sales of $153,000, sales discounts of $2,300, and sales returns of $3,670. Garza Company's net sales equals: Multiple Choice $5,970. $147,030. $150,700. $153,000. $158,970.

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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