A company had cash sales of $49,527,credit sales of $38,540,sales returns and allowances of $7,100,and sales discounts of $4,375.The company's net sales for this period equal:
A)$80,967.
B)$83,692.
C)$88,067.
D)$76,592.
E)$99,542.

Question

Quizplus · Accepted Answer

Net sales are calculated as total sales minus sales returns and allowances and sales discounts. Total sales are cash sales plus credit sales: $49,527 + $38,540 = $88,067. Subtract sales returns and allowances ($7,100) and sales discounts ($4,375) from total sales: $88,067 - $7,100 - $4,375 = $76,592.

A Company Had Cash Sales of $49,527,credit Sales of $38,540,sales