Calculate gross sales:
net sales = $100,000
sales returns and allowances = $25,000
sales discounts = $30,000
accounts receivable = $12,000
Correct Answer:
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Q39: Sara's Jewelry sold 40 necklaces for $35
Q40: Mel's Art studio was moving and sold
Q41: Compare and discuss a discount period versus
Q42: Sales Returns and Allowances is a contra-sales
Q43: For each of the following, identify in
Q45: The Sales Returns and Allowances account is
Q46: Sales Tax Payable represents an asset on
Q47: Sales is a revenue account.
Q48: Explain why the account Sales Tax Payable
Q49: Sales Discounts is a liability account.
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