A company reports the following sales-related information. Sales, gross Sales discounts $ 200,000 Sales returns and allowances 4,000 Sales salaries expense Prepare the net sales portion only of this company's multiple-step income statement. Net sales Multiple-Step Income Statement (Partial) $ 16,000 10,000

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 22Q: The following is select account information for August Sundries. Sales: $850,360; Sales Returns and...
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A company reports the following sales-related information.
Sales, gross
Sales discounts
$ 200,000 Sales returns and allowances
4,000 Sales salaries expense
Prepare the net sales portion only of this company's multiple-step income statement.
Net sales
Multiple-Step Income Statement (Partial)
$ 16,000
10,000
Transcribed Image Text:A company reports the following sales-related information. Sales, gross Sales discounts $ 200,000 Sales returns and allowances 4,000 Sales salaries expense Prepare the net sales portion only of this company's multiple-step income statement. Net sales Multiple-Step Income Statement (Partial) $ 16,000 10,000
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