Question

g Last year, Siena Company had $11,720,000 in gross billings for products sold. The sales returns and allowances for the company amounted to $370,000 and sales discounts were $175,000. Freight-out was $140,000. What were the net sales for Siena Company last year?

Answer 1

Answer:

$11,175,000

Explanation:

The net sales of Siena Company for the last year shall be determined through following mentioned formula:

Net sales=Gross sales-sales returns and allowances-sales discounts

In the given question:

Gross sales=$11,720,000

Sales returns and allowances=$370,000

Sales discounts=$175,000

Net sales=$11,720,000-$370,000-$175,000=$11,175,000