Merchandise sold by Lang Company to its customers last year amounted to $13,720,000; sales returns and allowances were $370,000, sales discounts were $175,000, and freight-out was $140,000. Net sales last year for Lang Company were a. b. C. d. Select one: a. $13,350,000. b. $13,720,000. C. $13,175,000.
Merchandise sold by Lang Company to its customers last year amounted to $13,720,000; sales returns and allowances were $370,000, sales discounts were $175,000, and freight-out was $140,000. Net sales last year for Lang Company were a. b. C. d. Select one: a. $13,350,000. b. $13,720,000. C. $13,175,000.
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter21: Supply Chains And Working Capital Management
Section: Chapter Questions
Problem 9P: Grunewald Industries sells on terms of 2/10, net 40. Gross sales last year were 4,562,500 and...
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![Merchandise sold by Lang Company to its customers last year amounted to $13,720,000; sales
returns and allowances were $370,000, sales discounts were $175,000, and freight-out was
$140,000. Net sales last year for Lang Company were
a.
b.
C.
d.
Select one:
a. $13,350,000.
b. $13,720,000.
C. $13,175,000.
d. $13,035,000.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc2665cc3-36f3-4674-b06f-eb02d015a48f%2Fa8970eba-8178-4f94-8ff8-879ddcd87f7f%2Fzx00zc8_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Merchandise sold by Lang Company to its customers last year amounted to $13,720,000; sales
returns and allowances were $370,000, sales discounts were $175,000, and freight-out was
$140,000. Net sales last year for Lang Company were
a.
b.
C.
d.
Select one:
a. $13,350,000.
b. $13,720,000.
C. $13,175,000.
d. $13,035,000.
![Which item below is not a current liability?
Select one:
a. Unearned revenue
b. Trade accounts payable
C. Share dividends distributable
d. The currently maturing portion of long-term debt](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc2665cc3-36f3-4674-b06f-eb02d015a48f%2Fa8970eba-8178-4f94-8ff8-879ddcd87f7f%2Fjwv9x1e_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Which item below is not a current liability?
Select one:
a. Unearned revenue
b. Trade accounts payable
C. Share dividends distributable
d. The currently maturing portion of long-term debt
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