Calculate net sales:
Cost of goods sold
$74,500
Sales revenue
$112,800
Operating expenses
$23,600
Sales returns
$4,600
Sales discounts
$6,700
Inventory purchases
$80,530
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Accounting
Calculate net sales:
Cost of goods sold
$74,500
Sales revenue
$112,800
Operating expenses
$23,600
Sales returns
$4,600
Sales discounts
$6,700
Inventory purchases
$80,530
Answer & Explanation
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4.4 Ratings (583 Votes)
Sales discount is a reduction in the price of product or service offered by the seller in exchange of early payment by the buyer The sales discount appears in income statement
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