At the end of the year Stan Still Stationery Store had the following balances: Sales $485,000; Sales Discounts $2,540; Sales Returns and Allowances $14,280; Sales Salaries Expense $54,000. The Net Sales for the year are:
A)$414,180
B)$468,180
C)$501,820
D)$447,820

Question

Quizplus · Accepted Answer

Net Sales are calculated by subtracting Sales Discounts and Sales Returns and Allowances from total Sales. Therefore, Net Sales = $485,000 - $2,540 - $14,280 = $468,180.

At the End of the Year Stan Still Stationery Store