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natali 33 [55]
3 years ago
8

During the month, Cellum, Inc. sold 100 cells at a price of $100 each. Each cell was sold at a 1% sales discount. Cellum had ret

urns of $198 (net of discounts) and incurred bank service charges of $20. Net sales for the month ended equals________.
Business
1 answer:
gavmur [86]3 years ago
6 0

Answer:

Net Sales for the month ended is equal to $9,702.

Explanation:

Sale = 100 x $100 = $10,000

Discount = $10,000 x 1% = $100

Sales Return = $198

Net Sales = Sales Price - Sales Discount - Sales Return

Net Sales = $10,000 - $100 - $198

Net Sales = $9,702

Net Sales for the month ended is equal to $9,702.

$20 is an expense and it is not an contra revenue account. So, it is not considered in net sales calculation.

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