Question

A company reported the following amounts at the end of the year total sales revenue = 550000; sales discounts = $12,000; sales returns = $44,000; sales allowances = $17,000. What was the company's net revenues for the year?

Answer 1

Answer:

$477,000

Explanation:

Computation of the company's net revenues for the year

Using this formula

Net revenues= Total sales - sales discounts- sales return- allowances

Where,

Total sales =$550,000

Sales discounts$12,000

Sales return=$44,000

Allowances=$17,000

Let plug in the formula

Net revenue =$550,000-$12,000-$44,000-$17,000

Net revenue =$477,000

Therefore the Net revenue will be $477,000