Yang Company reported the following balances at June 30, 2020: Sales Revenue HK $32,000 Sales Returns and Allowances 1,000 Sales Discounts 500 Cost of Goods Sold 15,500 Net sales for the month is? a. HK $32,000 b. HK $31,000 c. HK $30,500 d. HK $16,500
Yang Company reported the following balances at June 30, 2020: Sales Revenue HK $32,000 Sales Returns and Allowances 1,000 Sales Discounts 500 Cost of Goods Sold 15,500 Net sales for the month is? a. HK $32,000 b. HK $31,000 c. HK $30,500 d. HK $16,500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
A3
![Yang Company reported the following balances at June 30, 2020:
Sales Revenue HK $32,000
Sales Returns and Allowances 1,000
Sales Discounts 500
Cost of Goods Sold 15,500
Net sales for the month is?
a. HK $32,000
b. HK $31,000
C. HK $30,500
d. HK $16,500](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcaa1cde8-6417-4b3e-ba36-05b94cf1871d%2F0fa90e41-bf9b-4be8-bb6c-eba61dfd976b%2F5p2w21_processed.png&w=3840&q=75)
Transcribed Image Text:Yang Company reported the following balances at June 30, 2020:
Sales Revenue HK $32,000
Sales Returns and Allowances 1,000
Sales Discounts 500
Cost of Goods Sold 15,500
Net sales for the month is?
a. HK $32,000
b. HK $31,000
C. HK $30,500
d. HK $16,500
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