Chapter 5, Problem 3P

Solve this Accounting problem

On November 1, 2015, Wrens Mirth sold merchandise with a cost of $5,000 for $10,000, FOB destination, with payment terms of 3/10, n/40, Wrens paid transportation costs of $100. Of these, merchandise sold for $3,000 (with a cost of $1,500) was returned on November 6. The company received the payment for the balance amount on November 10, 2015. Calculate the Net sales revenue. a. $6,790 b. $4,790 c. $5,790 d. $7,800

I need assistance with this general accounting question using appropriate principles.

I want the correct answer with general accounting

Can you solve this financial accounting question with the appropriate financial analysis techniques?

I am looking for help with this general accounting question using proper accounting standards.

Please explain the correct approach for solving this general accounting question.

general accounting

Sales discount, sales return, and allowance is_____. (a) Revenue accounts (b) Permanent accounts (c) Contra revenue accounts (d) Contra expenses accounts.