Chapter 13, Problem 2AE

Can you explain this general accounting question using accurate calculation methods?

Financial Accounting Question please answer

GRS,Inc.,reported the following amounts at the end of the year:

Assume that markup is based on the cost

Better Value Hardware began 2010 with a credit balance of $37,500 in the allowance for sales returns account. Sales and cash collections from customers during the year were $1,025,000 and $675,000, respectively. Better Value estimates that 8% of all sales will be returned. During 2010, customers returned merchandise for a credit of $31,000 to their accounts. Better Value's 2010 income statement would report net sales of $__?

general accounting

Accurate Answer

Plz correct solution this question????. Acc

Don't use ai given answer accounting