Newark Company has provided the following information:Cash sales, $600,000Credit sales, $1,500,000Selling and administrative expenses, $480,000Sales returns and allowances, $105,000Gross profit, $1,510,000Increase in accounts receivable, $70,000Bad debt expense, $48,000Sales discounts, $58,000Net income, $1,030,000How much are Newark's net sales?how would i find net sales without revenue? I think it what I am trying to find
Newark Company has provided the following information:Cash sales, $600,000Credit sales, $1,500,000Selling and administrative expenses, $480,000Sales returns and allowances, $105,000Gross profit, $1,510,000Increase in accounts receivable, $70,000Bad debt expense, $48,000Sales discounts, $58,000Net income, $1,030,000How much are Newark's net sales?how would i find net sales without revenue? I think it what I am trying to find
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Newark Company has provided the following information:
Cash sales, $600,000
Credit sales, $1,500,000
Selling and administrative expenses, $480,000
Sales returns and allowances, $105,000
Gross profit, $1,510,000
Increase in
Bad debt expense, $48,000
Sales discounts, $58,000
Net income, $1,030,000
How much are Newark's net sales?
how would i find net sales without revenue? I think it what I am trying to find
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