Gross sales for Nevada Silver, a retailer of silver jewelry was $120,000 for the month of May.Sales discounts amounted to $18,000.There were no returns.The difference, $102,000, is Nevada Silver's:

Question

Quizplus · Accepted Answer

Net sales are calculated by subtracting sales discounts and returns from gross sales. Since there were no returns and the sales discounts amounted to $18,000, subtracting this from the gross sales of $120,000 gives us $102,000, which is the net sales.

Gross Sales for Nevada Silver, a Retailer of Silver Jewelry