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Lunar Tech reported gross sales of $180,000 during the year. The company offered sales discounts totaling $4,500 and recorded sales returns of $6,200. What are Lunar Tech's net sales for the year? a) $169,300 b) $175,500 c) $180,000 d) $190,700 e) $170,000

Lunar Tech reported gross sales of $180,000 during the year. The company offered sales discounts totaling $4,500 and recorded sales returns of $6,200. What are Lunar Tech's net sales for the year? a) $169,300 b) $175,500 c) $180,000 d) $190,700 e) $170,000

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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Lunar Tech reported gross sales of $180,000 during the year. The company offered sales discounts totaling $4,500 and recorded sales returns of $6,200. What are Lunar Tech's net sales for the year? a) $169,300 b) $175,500 c) $180,000 d) $190,700 e) $170,000
Transcribed Image Text:Lunar Tech reported gross sales of $180,000 during the year. The company offered sales discounts totaling $4,500 and recorded sales returns of $6,200. What are Lunar Tech's net sales for the year? a) $169,300 b) $175,500 c) $180,000 d) $190,700 e) $170,000
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