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OlgaM077 [116]
3 years ago
12

Financial information is presented below: Operating expenses $ 63000 Sales returns and allowances 14000 Sales discounts 6000 Sal

es revenue 196000 Cost of goods sold 98000 The amount of net sales on the income statement would be
Business
1 answer:
scoray [572]3 years ago
3 0

Answer: 176,000

Explanation:

The amount of net sales on the income statement will be calculated thus:

Sales Revenue = 196000

Less: Sales Discount = 6000

Less: Sales returns and allowances = 14000

Therefore, net sales will be:

= 196000 - 6000 - 14000

= 176000

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On october 4, 2017, terry corporation had credit sales transactions of $2,500 from merchandising having a cost of $1,900. the en
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I believe that this problem has the following choices:

 

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The correct answer from the choices is:

<span>> a credit of $2,500 to Sales
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