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Use the following information to answer the questions below: Sales$73,400 Sales Discount

Use the following information to answer the questions below: Sales$73,400 Sales Discount

Use the following information to answer the questions below:

 

Sales$73,400

Sales Discount1,500

Sales Returns and Allowances900

Transportation Expense700

 

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

Tripti 06-Dec-2019

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