Conrad Company reported the following balances at June 30, 2015: $$\begin{array} { l r }
\text { Sales Revenue } & \$ 16,200 \
\text { Sales Returns and Allowances } & 600 \
\text { Sales Discounts } & 300 \
\text { Cost of Goods Sold } & 7,500
\end{array}$$ Net sales for the month is
A) $7,800
B) $15,300.
C) $15,600.
D) $16,200.

Question

Conrad Company reported the following balances at June 30, 2015: $$\begin{array} { l r } 
\text { Sales Revenue } & \$ 16,200 \
\text { Sales Returns and Allowances } & 600 \
\text { Sales Discounts } & 300 \
\text { Cost of Goods Sold } & 7,500
\end{array}$$ Net sales for the month is
A) $7,800
B) $15,300.
C) $15,600.
D) $16,200.

Quizplus · Accepted Answer

Net sales is calculated as Sales Revenue minus Sales Returns and Allowances and Sales Discounts: $16,200 - $600 - $300 = $15,300.

Conrad Company Reported the Following Balances at June 30, 2015