R&R Lumber reports gross sales of $70,000.If sales returns and allowances are $10,000 and sales discounts are $3,000,what are the net sales?

Name: R&R Lumber reports gross sales of $70,000.If sales returns and allowances are $10,000 and sales discounts are $3,000,what are the net sales?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Net sales are calculated by subtracting sales returns and allowances and sales discounts from gross sales. Therefore, $70,000 - $10,000 - $3,000 = $57,000.

R&R Lumber Reports Gross Sales of $70,000