The following are information for XYZ Company: • Gross sales - P3,000,000 Items returned by customers - P100,000 Discounts taken by the customers - P250,000 Transportation cost shouldered by XYZ - P50,000 How much was the net sales?

The following are information for XYZ Company: • Gross sales - P3,000,000 Items returned by customers - P100,000 Discounts taken by the customers - P250,000 Transportation cost shouldered by XYZ - P50,000 How much was the net sales?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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Question

The following are information for XYZ Company:
Gross sales - P3,000,000
• Items returned by customers P100,000
Discounts taken by the customers - P250,000
Transportation cost shouldered by XYZ P50,000
How much was the net sales?

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