Chapter 11, Problem 22E

Monica company sells goods on credit. On one sale, they sold it for $20,000 and offered a 2/10, net 30 payment option. Two days after sale, the customer complained and they allowed them a $1,000 sales allowance. The customer paid the net amount within 8 days after the sale. The cash proceeds received by the seller are _.

What is the gross profit margin on these financial accounting question?

What will the pretax income equal if sales are $400,000 on these financial accounting question?

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Using the following information, what is the amount of net sales on these financial accounting question?

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