Gross sales for Alfredo Milling Company was $100,000 for the month of May. Sales discounts amounted to $3,000. There were no returns. The difference, $97,000, represents which of the following for Alfredo Milling Company?
A) cost of goods sold
B) gross revenues
C) gross profit
D) net sales

Question

Quizplus · Accepted Answer

The $97,000 represents the net sales for Alfredo Milling Company, which is the total sales revenue minus any sales discounts or returns.

Gross Sales for Alfredo Milling Company Was $100,000 for the Month