Sable Technologies had the following data for the period just ended: • Cash sales: $50,000 • Credit sales: $350,000 • Sales discounts: $30,000 • Sales returns & allowances: $20,000 • • Freight-in: $15,000 Freight-out: $18,000 The company would report net sales revenue on its income statement of: a) $330,000 b) $320,000 c) $310,000 d) $350,000

Sable Technologies had the following data for the period just ended: • Cash sales: $50,000 • Credit sales: $350,000 • Sales discounts: $30,000 • Sales returns & allowances: $20,000 • • Freight-in: $15,000 Freight-out: $18,000 The company would report net sales revenue on its income statement of: a) $330,000 b) $320,000 c) $310,000 d) $350,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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