Respuesta :
Cash sales = $94,325
Credit sales = $83,475
Sales returns and allowances = $1,725
Sales discounts = $3,500
To solve for net sales:
Net sales = (cash sales + credit sales) - sales returns and allowances - discounts)
Net sales = (94,325 + 83,475) - 1,725 - 3,500
Net sales = $173,075
Credit sales = $83,475
Sales returns and allowances = $1,725
Sales discounts = $3,500
To solve for net sales:
Net sales = (cash sales + credit sales) - sales returns and allowances - discounts)
Net sales = (94,325 + 83,475) - 1,725 - 3,500
Net sales = $173,075
The net sales for the given period is $172,575 if Prentice company had cash sales of $94,325, credit sales of $83,475, sales returns and allowances of $1,725, and sales discounts of $3,500.
What is net sales?
"Net sales is the sum of a company's gross sales minus its returns, allowances, and discounts."
What is cash sales?
"Cash sales are sales in which the payment obligation of the buyer is settled at once."
What is credit sales?
"The term “credit sales” refers to a transfer of ownership of goods and services to a customer in which the amount owed will be paid at a later date."
What is sales return?
"A sales return is when a customer or client sends a product back to the seller. "
What is allowance?
"Allowance is an amount of money that you receive regularly to help you pay for something that you need."
What is sales discount?
"A sales discount is a reduced price offered by a business on a product or service."
Given data
Cash sales=$94,325
Credit sales=$83,475
Sales return and allowances=$17,25
Sales discount =$3500
Formula to be used
Net sales = Gross sales-Returns-Allowances -Discount
Therefore, Prentice's net sales = ($94,325+$83,475)-$1725-$3500
= $172,575
Hence Net sales of Prentice is $172,575
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