Neptune Company's gross sales in 2011 were $3,930,000. Assuming sales returns and allowances were $74,000, sales discounts were $35,000, and freight-out was $28,000, what were Neptune's net sales in 2011?

Question

Quizplus · Accepted Answer

Net sales = Gross sales - (Sales returns and allowances + Sales discounts + Freight-out)
Net sales = $3,930,000 - ($74,000 + $35,000 + $28,000)
Net sales = $3,793,000

Neptune Company's Gross Sales in 2011 Were $3,930,000