Matthews Distributors is an award winning beverage distributor in the state of lowa. For the current year, Matthews Distributors has the following transactions: total beverage sales = $560,000; sales discounts = $10,500; sales returns = $31,000; sales allowances = $11,000. In addition, at the end of the year the company estimates the following transactions associated with beverage sales in the current year will occur next year: sales discounts = $1,050; sales returns = $3,720; sales allowances = $1,470. Compute net sales. Total sales Net sales
Matthews Distributors is an award winning beverage distributor in the state of lowa. For the current year, Matthews Distributors has the following transactions: total beverage sales = $560,000; sales discounts = $10,500; sales returns = $31,000; sales allowances = $11,000. In addition, at the end of the year the company estimates the following transactions associated with beverage sales in the current year will occur next year: sales discounts = $1,050; sales returns = $3,720; sales allowances = $1,470. Compute net sales. Total sales Net sales
Chapter7: Budgeting
Section: Chapter Questions
Problem 14EB: Earthies Shoes has 55% of its sales in cash and the remainder on credit. Of the credit sales, 70% is...
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![Matthews Distributors is an award winning beverage distributor in the state of lowa. For the current year, Matthews Distributors has
the following transactions: total beverage sales = $560,000; sales discounts = $10,500; sales returns = $31,000; sales allowances =
$11,000. In addition, at the end of the year the company estimates the following transactions associated with beverage sales in the
current year will occur next year: sales discounts = $1,050; sales returns = $3,720; sales allowances = $1,470. Compute net sales.
Total sales
Net sales](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fde6895c1-44a3-44a7-8e07-4b4c4e273e3b%2F1a354a2b-f3e4-4c3b-94dc-052610533cc1%2Fuedxvo_processed.png&w=3840&q=75)
Transcribed Image Text:Matthews Distributors is an award winning beverage distributor in the state of lowa. For the current year, Matthews Distributors has
the following transactions: total beverage sales = $560,000; sales discounts = $10,500; sales returns = $31,000; sales allowances =
$11,000. In addition, at the end of the year the company estimates the following transactions associated with beverage sales in the
current year will occur next year: sales discounts = $1,050; sales returns = $3,720; sales allowances = $1,470. Compute net sales.
Total sales
Net sales
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