Use the following information to answer the questions below:
Sales Returns and Allowances900
The Net Sales are ________.
84) Compare and discuss a discount period versus a credit period.
85) Determine the amount of net sales given:
gross sales = $150,000
sales discounts = $24,000
sales returns and allowances = $40,000
86) If cash flow is so important to merchandisers, why do they extend credit to their customers?
87) Calculate gross sales:
net sales = $75,000
sales returns and allowances = $15,000
sales discounts = $20,000
accounts receivable = $12,000
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