Financial information is presented below: Operating expenses $ 55000 Sales returns and allowances 3000 Sales discounts 9000 Sales revenue 200000 Cost of goods sold 89000 The amount of net sales on the income statement would be a.) $188000. b.) $191000. c.) $197000. d.) $200000.
Financial information is presented below: Operating expenses $ 55000 Sales returns and allowances 3000 Sales discounts 9000 Sales revenue 200000 Cost of goods sold 89000 The amount of net sales on the income statement would be a.) $188000. b.) $191000. c.) $197000. d.) $200000.
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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Financial information is presented below:
| Operating expenses | $ 55000 |
| Sales returns and allowances | 3000 |
| Sales discounts | 9000 |
| Sales revenue | 200000 |
| Cost of goods sold | 89000 |
The amount of net sales on the income statement would be
a.) $188000.
b.) $191000.
c.) $197000.
d.) $200000.
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