Home Restoration reports net sales of $60,000.If sales returns and allowances are $10,000 and sales discounts are $1,500,what are gross sales?

Name: Home Restoration reports net sales of $60,000.If sales returns and allowances are $10,000 and sales discounts are $1,500,what are gross sales?
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Question

Quizplus · Accepted Answer

Gross sales are net sales plus sales returns and allowances and sales discounts. So, gross sales = $60,000 + $10,000 + $1,500 = $71,500.

Home Restoration Reports Net Sales of $60,000