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Kelly's Jewelry reported the following amounts at the end of the year: total jewelry sales = $650,000; sales discounts = $15,000; sales returns = $40,000; sales allowances = $20,000. Compute net sales.

Kelly's Jewelry reported the following amounts at the end of the year: total jewelry sales = $650,000; sales discounts = $15,000; sales returns = $40,000; sales allowances = $20,000. Compute net sales.

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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Kelly's Jewelry reported the following amounts at the end of the year: total jewelry sales = $650,000; sales discounts = $15,000; sales returns = $40,000; sales allowances = $20,000. Compute net sales.
Transcribed Image Text:Kelly's Jewelry reported the following amounts at the end of the year: total jewelry sales = $650,000; sales discounts = $15,000; sales returns = $40,000; sales allowances = $20,000. Compute net sales.
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