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Galina-37 [17]
3 years ago
10

Financial information is presented below: Operating expenses $ 63000 Sales returns and allowances 2000 Sales discounts 5000 Sale

s revenue 156000 Cost of goods sold 104000 The amount of net sales on the income statement would be
Business
1 answer:
Assoli18 [71]3 years ago
8 0

Answer:

$149,000

Explanation:

The computation of the amount of net sales is shown below:

=  Sales revenue - sales return & allowance - sales discount

= $156,000 - $2,000 - $5,000

= $149,000

We simply deduct the two items from the sales revenue so that the net sales revenue could be come and the same would be reported on the income statement

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