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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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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